US Spot #Bitcoin ETFs See $105M Daily Inflow, Led by Fidelity’s FBTC
Asset issuers globally generated around $2 billion of inflows in crypto-related investment products in May.
On June 3, 2024, spot Bitcoin exchange-traded funds (ETFs) in the United States recorded a daily inflow of $105 million, with Fidelity’s FBTC leading the way.
Despite a broader market downturn affecting Bitcoin (BTC), which dropped from an all-time high of $73,000 to $69,000 at press time, these ETFs have enjoyed a remarkable run over the past few weeks. This positive streak on Monday has now extended to 15 consecutive days.
The impressive inflows demonstrate a robust demand for Bitcoin spot ETFs among investors. These products, which track the value of BTC directly, offer a convenient way for investors to gain exposure to the crypto asset without the need to manage it themselves.
Mixed Performance among Top ETFs
According to data from SoSoValue, the 11 Bitcoin ETFs approved for trading in the United States have collectively attracted net inflows of $13.96 billion as of June 3.
In the past 24 hours alone, these ETFs saw over $105 million in new investments, with majority of the funds coming from Fidelity Investments’ FBTC.
Fidelity’s FBTC led the way with approximately $77 million in inflows in a single day. This was followed by Bitwise’s BITB, which saw around $14 million in net inflows on Monday.
During the same period, Ark Invest and 21Shares’ ARKB attracted $11 million in new investments. Similarly, VanEck and WisdomTree’s spot ETFs reported minimal
