Crypto:
30336
Bitcoin:
$64.940
% 0.00
BTC Dominance:
%54.2
% 0.09
Market Cap:
$2.37 T
% 0.16
Fear & Greed:
60 / 100
Bitcoin:
$ 64.940
BTC Dominance:
% 54.2
Market Cap:
$2.37 T

Spot Bitcoin ETFs Attract $66 Million in Inflows, Fidelity’s Offering Leads the Pack

Bitcoin

Spot bitcoin exchange-traded funds (ETFs) in the US saw a significant surge in investment activity yesterday, with nearly $66 million flowing into these products. This pushes the total net inflow for spot bitcoin ETFs since their launch to almost $11.75 billion.

Fidelity’s Bitcoin ETF Takes the Lead

Fidelity’s Wise Origin Bitcoin Fund emerged as the most popular spot bitcoin ETF, attracting $39 million in net inflows within a single day, according to data from SoSo Value. Other notable performers included the Bitwise Bitcoin ETF (BITB) and the VanEck Bitcoin Trust ETF (HODL), which brought in $20 million and $7 million, respectively.

Grayscale’s converted Bitcoin Trust (GBTC) recorded a contrasting trend, experiencing net outflows totaling approximately $18 billion. It’s important to note that no other spot bitcoin ETFs, including GBTC, reported any net activity in either direction yesterday.

Spot Bitcoin ETF Volumes Up, But Overall Trend Dips

While yesterday witnessed a rise in spot bitcoin ETF volumes, reaching their highest level since the month began, the general trend remains downward. Data from The Block’s Data Dashboard indicates a slight but consistent decline in daily assets under management for spot bitcoin ETFs since early April, reflecting a pattern of outflows in recent weeks.

Meanwhile, Hong Kong’s bitcoin ETFs reportedly faced net outflows amounting to 535 BTC yesterday. According to Vetle Lunde, a senior analyst at K33 Research, this pushes the total bitcoins under management in the region below its initial seed level.

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