News and Analytics

0

Bitcoin ETF Inflows Surge Amid Delay in ETH ETF Launch

Jun 4, 2024

In the recent fifteen trading days, Bitcoin Exchange Traded Funds (ETFs) in the USA witnessed continuous net inflows without any outflows, with accumulative amounts ranging from $0 to $305.7 million. The cryptocurrency market experienced a turbulent phase in May, marked by significant outflows of $563.7 million on May 1, followed by a remarkable streak of inflows towards the month-end.

On June 3, Bitcoin ETFs recorded a total inflow of $105.1 million, with a major contribution from Fidelity's FBTC. The detailed breakdown of BTC ETFs' holdings on June 3 is presented in the provided table.

In the past fifteen days, BTC ETFs reported a collective net inflow of approximately $2.580 billion, as confirmed by data from Farside Investors. The period witnessed the highest inflow on May 21, primarily powered by BlackRock's iShares Bitcoin Trust (IBIT) with $305.7 million.

Among the ETFs, IBIT, FBTC, BTCO, EZBC, BRRR, and BTCW maintained consistent inflows with no outflows, while BITB, ARKB, and HODL experienced occasional outflows. Notably, Grayscale's GBTC stood out with a net outflow exceeding $265 million over the same period.

The delay in launching the ETH ETF has influenced the inflows into BTC ETFs. The expected transfer of funds from BTC to ETH ETF due to the approval of the ETH ETF in the US market has been postponed, leading to sustained inflows in BTC ETFs. This delay is estimated to continue for the next two to three months, as highlighted by Nate Geraci, the president of ETFStore, who emphasized the uncertain launch timeline for ETH ETFs and the critical role played by SEC in the approval process.

Comments

Latest analytics

Astra Protocol:...

Astra Protocol: Innovative Solutions for Regulation and...

How Chainalysis...

How Chainalysis Helps Track Blockchain Transactions and...

Show more

Latest Dapp Articles

Show more

You may also like