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Analysis of Recent Inflows in US Bitcoin Exchange-Traded Funds

Jun 5, 2024

Fidelity's FBTC emerged as the primary beneficiary of a significant inflow of $105 million in the US spot Bitcoin ETF on June 3, 2024. This influx marked 15 consecutive days of capital flow into Exchange-Traded Funds (ETFs), indicating a robust interest among investors.

On the same day, SoSoValue reported an impressive $13.96 billion in net inflows from 11 licensed Bitcoin ETFs in the US. Of the total $105 million allocated for investment, FBTC secured the lion's share at $77 million, followed closely by Bitwise's BITB with $14 million.

Meanwhile, Ark Invest and 21Shares' ARKB received a combined $11 million, while VanEck and WisdomTree's spot ETFs received under $2 million each.

Notably, despite their significant presence, Grayscale and BlackRock did not attract any fresh investments on that particular day. BlackRock's iShares Bitcoin Trust (IBIT) recently surpassed Grayscale Bitcoin Trust (GBTC) to become the largest cryptocurrency exchange-traded fund globally, holding assets worth approximately $20 billion.

CoinShares announced a substantial global inflow of $2 billion in cryptocurrency investment products in May, encompassing markets in the United States, Europe, and Hong Kong. This surge was fueled by the approval of Bitcoin and Ethereum ETFs in Hong Kong on April 30, 2024. Monochrome, the first Bitcoin exchange-traded fund (ETF) in Australia, has been officially listed on Cboe Australia.

Moreover, One Asset Management's Bitcoin ETF received approval in Thailand a few days ago, allowing Thai institutional investors to securely allocate their investments to prominent global Bitcoin funds.

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