đBlackRock's Bitcoin ETF is hogging the spotlight, accounting for a whopping 95% of total inflows into US spot Bitcoin ETFs! That's $290M in a single day, folks! đ€ Meanwhile, the rest of the ETF gang managed a combined inflow of $15.7M.
đThis marks the highest inflow for BlackRock since April 5, breaking a six-week streak of "meh" inflows. In fact, the recent figure surpasses the total inflows for the previous 21 trading days combined.
đ°In total, spot Bitcoin ETFs have attracted more than $1B over the last four trading days amid a volatile Bitcoin rally. BlackRock's fund now boasts $16B in total inflows since its inception.
đBut not all ETFs had a party. VanEck and Bitwise saw outflows of $5.9M and $4.2M respectively. Meanwhile, Fidelity had minor inflows of $25.8M.
đThe surge in Bitcoin ETF inflows has been fueled by a recent rise in BTC prices, which climbed 12% over the past week. On May 21, BTC hit a six-week high of $71,600 but dropped below $70,000 on May 22.
đźSpeculation that the SEC might approve spot Ether ETFs has lifted crypto markets since May 20.
What's your take on this? Drop your thoughts in the comments! #DeFi #Web3 #CryptoNews đđ