The U.S. spot Bitcoin exchange-traded fund (ETF) recorded net inflows totaling $28.32 million per day on Wednesday. The funds recorded inflows for the 12th consecutive day, the longest streak since the last week of February.
The inflows were led by BlackRock’s IBIT, which saw inflows worth $24.5 million, according to IBIT. data From SoSoValue. Grayscale’s GBTC recorded net outflows of $31 million. This further widened the gap between IBIT and GBTC. The former surpassed its spot as the largest Bitcoin ETF by net assets under management on Tuesday.
Fidelity’s FBTC, the third-largest spot Bitcoin ETF, recorded net inflows of $18 million, followed by IBIT. Bitwise’s ETFs recorded net inflows worth $11 million, while funds from Ark Invest and 21Shares, Invesco and Galaxy Digital, and WisdomTree reported smaller inflows.
The 11 spot Bitcoin ETFs combined have seen total net inflows of over $2 billion over the past 12 days, bringing their cumulative total net inflows since January to $13.76 billion.
Meanwhile, U.S. ETF issuers are preparing for: Spot Ethereum ETF launched, the Securities and Exchange Commission approved Form 19b-4 for such funds last week. The company still needs to get its S-1 form approved by regulators before the spot ether fund can begin trading.
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About the author
Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong, and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.