ETFs
Bitcoin Crosses $71,000 as BTC ETFs See Inflows of $880 Million in Best Day Since March
-
U.S.-listed spot Bitcoin ETFs saw more than $880 million in inflows on Tuesday, led by Fidelity’s FBTC.
-
Bitcoin rose over $71,000 during Asian trading hours, an increase of 3% over the past 24 hours, with the CoinDesk 20 Index up 2.65%.
U.S.-listed Bitcoin {{BTC}} exchange-traded funds (ETFs) saw more than $880 million in inflows on Tuesday, led by Fidelity, according to preliminary data released Wednesday.
Bitcoin rose more than $71,000 during Asian trading hours when the data was made public, adding 3% over the past 24 hours. The wide range CoinDesk20 (CD20)an index of the largest tokens, rose 2.65%
Fidelity’s FBTC saw $378 million in inflows, the highest among its peers. BlackRock’s IBIT followed with $270 million, while Grayscale’s GBTC – infamous for its capital outflows – raked in $28 million.
Bitcoin ETF Flow (Million US Dollars) – 06/04/2024
TOTAL NET FLOW: 886.6
(Provisional data)IBIT: 274.4
FBTC: 378.7
BITB: 61
ARKB: 138.7
BTCO: 0
EZBC: 0
BRRR: 1.6
HODL: 4
BTCW: 0
GBTC: 28.2
CHALLENGE: 0For full data and disclaimers visit:https://t.co/4ISlrCgZdk
– Farside Investors (@FarsideUK) June 5, 2024
This is the best day of inflows since March and the second highest since 11 Bitcoin ETFs went live in January.
Inflow activity has recently recovered in generally bullish sentiment after a dismal few weeks between mid-April and early May, a period that saw zero net inflows on some days and even capital outflows for major ETFs such as BlackRock’s IBIT.
Bloomberg analyst Eric Balchunas said on dollars.
Higher activity occurs a few weeks later ether {{ETH}} ETF spot has been approved for listing in the United States and a positive outlook for cryptocurrencies due to the ongoing US presidential campaign.