Bitcoin Spot ETFs Gain Momentum with Consistent Inflows for 15 Straight Days
According to reports from analytics platform Sosovalue, Bitcoin spot ETFs have started to regain momentum. On June 3rd, these ETFs experienced a cumulative inflow of $105 million, marking 15 consecutive days of inflows.
Data shows that Grayscale’s GBTC, an exchange-traded fund, had a net outflow of $0.00 per day. On the other hand, Fidelity’s Bitcoin ETF saw significant inflows, making it the top performer. Wu Blockchain reported that FBTC had an inflow of approximately $77.0482 million. Bitwise’s BTC ETF also saw some inflows, with BITB receiving $14.3145 million.
Despite Fidelity and Bitwise’s strong performance, Grayscale’s flat status in terms of inflows indicates a decrease in market demand. However, the overall increase in ETF inflows suggests a promising future for the market. As a result, the hype surrounding the ETF sector continues to grow.
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. According to Lookonchain, GBTC currently holds 286,957 BTC, valued at approximately $19.75 billion.
In addition, Blackrock added 2,505 BTC, worth $172.4 million, to its ETF holdings. The fund now holds 291,563 BTC, equivalent to $20.07 billion. Fidelity also made an addition of 87 BTC, bringing its total holdings to 164,118 BTC.
Tags: ETF