The U.S. spot bitcoin ETFs continue its hot streak, recording $488 million in inflows yesterday, June 5. All 11 funds either experienced net inflows or maintained zero flows, following the second-highest daily net inflows recorded early this month. This makes it the 17th day in a row that the 11 spot Bitcoin ETFs have seen daily net inflows, equaling the longest positive flow streak seen back in January and February.
Major ETF Holders In Deep Profit
The appetite for spot bitcoin ETFs has mirrored its tremendous success since it was launched earlier this year.
The SEC’s green light to the first spot Bitcoin ETFs in January has led to products from major players such as BlackRock, Fidelity, and other firms and others to quickly garner billions in assets.
Data from SosoValue show that Fidelity’s FBTC attracted the highest net inflows, bringing in $220.6 million on Wednesday. BlackRock’s IBIT saw the second-highest net inflows among the funds, with an increase of $155.43 million.
📊 Bitcoin ETF Tracker | 2024-06-05
🟩 Daily Total Net Inflow +$488.24M
💰 Total Value Traded $2.09B
🏦 Total Net Assets $62.56B
📊 ETF Market Value Ratio 4.46%
🥇 Net Inflows/Outflows for Each ETF
🟩 FBTC +$220.64M
🟩 IBIT +$155.43M
🟩 ARKB +$71.40M
🟩 BITB +$18.60M
🟩 GBTC… pic.twitter.com/cUwJ3aFmWU
— SoSo Value (@SoSoValueCrypto) June 6, 2024
Ark Invest and 21 Shares’ ARKB attracted $71.4 million, while Bitwise BITB experienced a daily net inflow of $18.60 million.
Grayscale’s GBTC recorded net inflows of $15 million, marking its second day in a row with positive net flows. VanEck’s fund reported $4 million in net inflows, and Invesco and Galaxy Digital’s fund also received $4 million.
Recently, Crypto-Vanguard reported that BlackRock has swiftly emerged as the frontrunner among spot Bitcoin ETFs outpacing Grayscale in total assets.
Bitcoin ETF Experience A Widespread Adoption
The extensive adoption of Bitcoin ETFs by institutional investors like JPMorgan, Bank of Montreal, and hedge fund magnates such as Billionaire Steve Cohen gaining exposure to Bitcoin ETF space is seen as a significant development in the cryptocurrency market
Additionally, other nations beyond the United States and the United Kingdom endorsing Bitcoin ETPs for listing, like the recent approval in Thailand, and Australia, demonstrate the increasing recognition of Bitcoin as a valid institutional asset.
This great adoption not only increases accessibility for investors but also adds to the overall credibility and mainstream recognition of Bitcoin as a valuable investment option.
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