ETFs
Spot Bitcoin ETFs Maintain Inflow Streak with BlakRock IBIT Leading the Way
US spot Bitcoin ETFs have performed impressively since their launch in January. Additionally, they have maintained a strong net inflow over the past few weeks. Yesterday, spot BTC ETFs saw a cumulative inflow of $220 million. This was the 18th trading day in a streak of consecutive inflows.
BlackRock’s ETF product, IBIT, impressively maintains the lead with the largest daily inflows.
Spot Bitcoin ETFs Reached Their Eighteenth Trading Day of Continuous Inflow Streak
Launched on January 10, the US spot Bitcoin exchange-traded funds (ETFs) have now reached their eighteenth trading day of continuous inflow. Crypto products last saw an outflow on May 10, primarily from Grayscale’s GBTC.
According to data from Farside Investors, GBTC saw an outflow of $103 million on May 10.
Notably, combined outflows for all ETFS amounted to $84.7 million on the same day. However, the trend changed in the following days as all 11 spot Bitcoin ETFs posted positive daily trading results. On June 6, ETFs accumulated a total inflow of $217.7 million.
BlakcRock’s IBIT took the lead with the largest entry of $349.9 million for the day. Fidelity recorded an inflow of $3.1 million for the day.
Conversely, Glayscale’s GBTC, ARK Invest’s ARKB, and Bitwise’s BITB all saw outflows for the day. They recorded cash outflows of $37.6 million, $96.6 million and $3.1 million, respectively. The remaining ETFs showed no signs of activity during the day.
Additionally, some market observers believe that US inflation data contributed to the positive reversal in ETFs. Bitcoin Price Reaction Reflects Growing Bullish Movement as Top Crypto Assets Climb $70,000 threshold.
As of June 4, spot ETFs saw their second largest cumulative inflow of $886.6 million. Furthermore, progress continued on June 5 with a total inflow of $488.1 million.
Fidelity ETF FBTC Hits Key Milestone With Days of Significant Inflows
Fidelity’s Bitcoin ETF, FBTC, has stirred up the market with significant inflows over the past few days. For a few days, FBTC dominated the rest with an inflow of almost $221 million in a single day.
As of May 30, FBTC recorded an inflow of $119.1 million. Additionally, on June 3, it contributed more than 50% to the Bitcoin ETF market spot inflow. While most products received little to no inflow, FBTC accumulated an inflow of $77 million.
Additionally, with the capital inflows on June 4 and 5, FBTC’s total assets under management (AUM) exceeded $9.5 billion. On those days, its receipts amounted to $378.7 million and $220.6 million, respectively.
The leading spot Bitcoin ETF, IBIT, saw inflows of $274.4 million and $155.4 million on June 4 and 5, respectively. Amid the impressive production of the American spot BTC ETFthe underlying crypto asset, Bitcoin, reflected only a slightly positive reaction.
Bitcoin (BTC) professions at $71,286, indicating an increase of 0.54% over the past day. It boasts a market capitalization of $1.404 trillion and 53.23% altcoin dominance.
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