๐๐ Bitcoin ETF inflows in the US hit a whopping $303 million on May 15, marking the highest inflow since May 3! This comes as BTC prices are skyrocketing, with the asset surging 7% over the past 24 hours, tapping $66,567 during early trading in Asia on Thursday morning. ๐๐ฐ
Fidelity's FBTC fund led the pack, seeing $131 million in inflows for the day, its highest since March 26. Bitwiseโs BITB fund also had a solid day with an inflow of $86 million, a figure not beaten since March 4. Even Grayscaleโs GBTC saw an inflow with $27 million returning to its flagship BTC fund following four months of outflows. ๐ฆ๐ธ
๐๐ The latest US Security and Exchange Commission filings reveal that one of the worldโs largest hedge funds, Millennium Management, holds a staggering $2 billion spot Bitcoin ETF portfolio. This portfolio is comprised of $844.2 million in BlackRockโs IBIT, $806.7 million in Fidelityโs FBTC, $202 million in Grayscaleโs GBTC, $45.0 million in Arkโs ARKB, and $44.7 million in Bitwiseโs BITB. Millennium is now the largest holder of IBIT and FBTC. ๐ผ๐ฐ
๐ฏ The big ETF inflow day coincided with big gains for bitcoinโs price. BTC was changing hands for $65,900 at the time of writing, following a gain of 15% over the past fortnight, bringing it to just 10% from its all-time high. The crypto markets reacted positively to the April CPI data in the US, which came in lower than expected at 0.3%, increasing the likelihood of the Federal Reserve reducing rates and injecting more liquidity into markets, a good news for high-risk assets such as crypto. ๐๐