Bitcoin Spot ETFs Gain Momentum with Consistent Inflows for 15 Consecutive Days
The spot ETFs of Bitcoin are experiencing a resurgence in momentum, according to recent reports. On June 3rd, BTC spot ETFs saw a cumulative inflow of $105 million, marking a continuation of inflows for 15 consecutive days. These statistics were gathered from the analytics platform Sosovalue.
Among the various BTC spot ETFs, Grayscale’s GBTC saw no net outflow per day, while Fidelity’s Bitcoin ETF emerged as the leader with significant inflows. Wu Blockchain reported that FBTC received an inflow of approximately $77.0482 million. Bitwise’s BTC ETF also experienced some inflows, with BITB receiving $14.3145 million. Despite the notable performance of Fidelity and Bitwise, Grayscale’s flat status regarding inflows indicates a decrease in market demand. However, the overall increase in ETF inflows suggests a promising future for the market, leading to a rise in hype surrounding the ETF sector.
Lookonchain, a well-known on-chain analytics provider, also provided data on BTC ETFs. It revealed that nine exchange-traded funds held a total of 2,413 BTC tokens, equivalent to $166 million. Grayscale’s GBTC saw a decrease of nearly 12 BTC, amounting to -$809K. Lookonchain stated that GBTC currently holds 286,957 BTC, which is approximately $19.75 billion. Additionally, Blackrock added 2,505 BTC, totaling $172.4 million, and now holds 291,563 BTC, equivalent to $20.07 billion. Fidelity added 87 BTC, bringing their total holdings to 164,118 BTC.
In summary, Bitcoin spot ETFs are seeing a resurgence in momentum, with consistent inflows for 15 consecutive days. Fidelity’s Bitcoin ETF stands out as the top performer, while Grayscale’s inflows remain stagnant. The overall increase in ETF inflows indicates a positive outlook for the market, leading to growing enthusiasm around the ETF sector.