Ethereum
Bitcoin climbs back above $67,000
Key points to remember
- Bitcoin is trading above $67,000 on Friday, rising as the Bitcoin 2024 conference continues in Nashville.
- Spot ether ETFs saw $152.4 million in net outflows yesterday, while spot bitcoin ETFs saw $31.1 million in net inflows.
- Jersey City Mayor Steven Fulop revealed that the city’s pension fund would invest in Bitcoin ETFs, while the Michigan State Retirement System said it holds $6.6 million in the 21Shares ARK Bitcoin ETF.
- Coinbase stock is rising after appointing three new board members.
Bitcoin, which was trading near $65,000 yesterday, recently returned above $67,000 as the Bitcoin 2024 conference continues in Nashville.
Thursday was relatively quiet for Bitcoin spot exchange-traded funds (AND F), with $31.1 million in inflows, according to Farside Investors. Jersey City Mayor Steven Fulop announced on X that the city’s pension fund would soon invest in Bitcoin ETFs, hinting at a potential 2% allocation. The Michigan State Retirement System said it holds $6.6 million in the 21Shares ARK Bitcoin ETF (ARKB) in a filing with the SEC Friday morning.
In the ether ETF spot market on Thursday, an additional $346.2 million left the Grayscale Ethereum Trust (ETHÉ), according to Farside Investors. That brought the ETF’s total three-day outflows to $1.15 billion, with $7.4 billion in assets still under management.
Total net outflows for the entire spot ether ETF market now stand at $179.1 million. Ether is up about 2.5% in the past 24 hours, according to data from CoinDesk.
Coinbase Global cryptocurrency exchange (PIECE OF MONEY) rose 5% following the announcement of three new board members. One of them, Paul Clement, a partner at Clement & Murphy, will advise Coinbase on its battle in progress with the SEC.