US Bitcoin ETFs
US Bitcoin ETFs are making headlines as they achieve a historic milestone, US Bitcoin ETFs Set New Record with 18-Day Streak of Net Inflows. On Thursday, these exchange-traded funds recorded a total net inflow of $217.78 million, led predominantly by BlackRock’s IBIT, the largest spot bitcoin ETF by net assets. IBIT alone attracted $350 million worth of net inflows, according to data from SoSoValue. Despite BlackRock’s dominance, Fidelity’s and VanEck’s bitcoin ETFs also experienced net inflows, albeit on a smaller scale. However, the trend wasn’t uniform across all ETFs. Ark Invest’s ARKB saw significant net outflows of $96.6 million, while Grayscale’s converted GBTC and Bitwise’s BITB reported net outflows of $37.5 million and $3 million, respectively. Interestingly, five other spot bitcoin ETFs, including Invesco’s BTCO, witnessed no flows on Thursday. The remarkable streak of net inflows has propelled the total net inflow of these 11 spot bitcoin ETFs to $15.56 billion since their inception in January, underscoring the growing investor interest in cryptocurrency-based investment vehicles. This resurgence in flows comes after a period of stagnation during April and May, though it still falls short of the peak observed in March, as indicated by The Block’s data dashboard. US Bitcoin ETFs Set New Record with 18-Day Streak of Net Inflows.
