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🧙‍♂️ On June 7, spot Bitcoin ETFs recorded inflows of $131 million. BlackRock's Bitcoin ETF saw $168.3 million in inflows. Grayscale's Bitcoin ETF experienced an outflow of $36.3 million.

🧙‍♂️ On June 7, spot Bitcoin ETFs recorded inflows of $131 million.

BlackRock's Bitcoin ETF saw $168.3 million in inflows.

Grayscale's Bitcoin ETF experienced an outflow of $36.3 million.

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BlackRock's Spot Bitcoin ETF Surpasses 300,000 Bitcoins, Outperforms Grayscale. BlackRock's pioneering spot Bitcoin ETF (IBIT) has achieved significant success, surpassing 300,000 Bitcoins. Launched just five months ago, this fund has quickly become a dominant player in the crypto investment industry. Despite the volatility in the cryptocurrency market, BlackRock's IBIT fund has demonstrated exceptional resilience and growth. According to the latest updates, the #ETF added another 4,920 Bitcoins via the BlackRock website, reaching a total of 302,534 Bitcoins. This increase underscores investors' confidence in the fund's stability and potential. Last week, IBIT surpassed Grayscale #Bitcoin Trust (GBTC) in total assets under management (AUM). GBTC, which has been operating since 2015 and recently converted to ETF format with SEC approval, charges a management fee of 1.5%. In contrast, BlackRock's competitive fee structure is set at 0.25%, making it a more attractive option for investors by offering significant cost savings. Currently, the total amount of #Bitcoin held in spot ETFs has reached approximately 883,000. This figure represents approximately 4.2% of Bitcoin's total supply. Sustained inflows into these funds, especially in the United States, broke a new growth record by continuing for 18 consecutive days. Last week alone, these inflows reached nearly $1.8 billion. BlackRock's success with the iShares #Bitcoin Trust marks a significant milestone in the adoption and growth of cryptocurrency ETFs. The fund's rapid accumulation of Bitcoin and competitive fee structure seem to continue to attract investors' attention. As the market evolves, such instruments could play a critical role in the widespread adoption of cryptocurrencies, presenting both opportunities and challenges in the financial landscape. $BTC
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