Updated: June 5, 2024, 1:11 AM EDT
The U.S. spot Bitcoin exchange-traded fund attracted $886.75 million worth of funds on June 4, recording the second-highest daily net inflow since listing. The highest daily net inflow to a spot Bitcoin fund was on March 12, when the fund received $1.05 billion.
The largest net inflow on Tuesday came from Fidelity’s FBTC, which added $379 million. That followed net inflows of $274 million, according to BlackRock’s IBIT. data From SoSoValue. To date, the cumulative net inflow has reached $14.85 billion.
Ark Invest and 21Shares’ ARKB recorded $139 million worth of inflows, while Bitwise’s BITB also recorded $61 million worth of inflows. Grayscale’s GBTC generated $28 million, the third largest net inflow since the conversion. VanEck and Valkyrie’s ETFs also saw single-digit net inflows.
With Tuesday’s inflows, 11 spot Bitcoin ETFs recorded their 16th consecutive day of net inflows, one day behind the longest continuous inflows the funds recorded from January to mid-February.
Spot Bitcoin ETFs have accumulated total net inflows of $14.57 billion since launch. Meanwhile, total flows in U.S. spot Bitcoin ETFs remained below their March highs, according to The Block’s data dashboard.
value of bitcoin It briefly crossed the $71,000 mark during late night Tuesday, changing hands at around $70,800 at the time of publication.
Meanwhile, in the US, the launch of a spot Ethereum ETF is expected as major issuers recently filed revised registration statements with the Securities and Exchange Commission. Analyst at K33 Research Assuming there are spot ether funds Net inflows could amount to $3.1 billion to $4.8 billion in the first five months of 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.