spotlight in the United States Bitcoin Exchange-traded funds (ETFs) witnessed a significant increase in daily net inflows, with a total of $302.97 million on Wednesday, marking the highest inflow since May 3.
Spot Bitcoin ETFs Witness $302 Million Inflows, Fidelity’s FBTC Leads Surge
Fidelity’s FBTC emerged as the frontrunner attracting inflows with a staggering $131 million in inflows on a daily basis, according to data from SoSoValue.
Following closely behind, Bitwise’s fund saw an inflow of $86 million. Ark Invest and 21Shares’ ARKB generated $39 million in net inflows.
Meanwhile, ETFs managed by Valkyrie, VanEck, Franklin Templeton, WisdomTree and Invesco/Galaxy Digital collectively reported modest single-digit net inflows.
Even Grayscale’s GBTC, the largest spot Bitcoin fund by net asset value, had its third net inflow on Wednesday, bringing in $27 million. Notably, BlackRock, the second largest fund, recorded no flows.
“The large inflows suggest that investment advisors and hedge fund managers view BTC ETFs as a unique hedge, providing diversification benefits that traditional asset classes cannot offer,” said Rachael Lucas, crypto analyst at BTC Markets.
As of Wednesday, 11 spot Bitcoin ETFs in the U.S. had total cumulative net inflows of $12.15 billion. However, trading volume for these ETFs has declined steadily since peaking in March.
*This is not investment advice.
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