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Bitcoin rises above $64,000 as Coinbase discount narrows

U.S. spot bitcoin ETFs saw a net $95 million outflow on Thursday, even as ether funds ended a five-day inflow streak with about $52 million in losses.

Reported · Written up by our desk · Market Structure

Bitcoin climbed above $64,000, gaining more than 1% over the prior 24 hours, as the Coinbase Premium discount narrowed from around negative 150 at the start of July to roughly negative 40, CoinDesk reported.

Coinbase Premium tracks the price gap for bitcoin between Coinbase and Binance, with a smaller discount suggesting less relative weakness in U.S. spot demand, and the bitcoin rally followed a move from about $58,000 to above $64,000.

Institutional crypto flows, however, were mixed. U.S. spot bitcoin ETFs recorded a net outflow of about $95 million on Thursday, led by Fidelity’s FBTC, while ether ETFs lost about $52 million, ending a five-day inflow streak.

Ether prices rose 2.6% to around $1,760, even as no ether fund posted an inflow on the day, and bitcoin’s total ETF assets were cited as near $77 billion.

Latest closeBitcoin $64,143.28 ▲1.5%

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