Binance CEO Says Spot Bitcoin ETFs Drew $999 Million Despite Rising US Treasury Yields
JH Kim
Summary
- Binance CEO Richard Teng said spot Bitcoin ETFs recorded $999 million in net inflows despite elevated US Treasury yields.
- Cointelegraph reported that Teng said spot Bitcoin ETFs posted $999 million in net inflows despite high US Treasury yields.
- Teng emphasized that money continued to flow into spot Bitcoin ETFs even in an environment of elevated Treasury yields.
Forecast Trend Report by Period
Binance Chief Executive Officer Richard Teng said spot Bitcoin exchange-traded funds recorded net inflows of $999 million despite rising pressure from higher US Treasury yields.
Cointelegraph reported on Sept. 29 that Teng said spot Bitcoin ETFs attracted $999 million in net inflows even as US Treasury yields remained elevated.
Higher Treasury yields are considered a headwind for demand for risk assets such as cryptocurrencies.
Teng highlighted that money continued to flow into spot Bitcoin ETFs despite that backdrop.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.