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Overview of Recent Movement in Spot Bitcoin ETFs

May 31, 2024

Since the approval of multiple spot Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) earlier this year, the financial industry has been closely monitoring and discussing these ETFs. On the 13th consecutive day of net inflows for U.S. spot Bitcoin ETFs, a total of $48.71 million was attracted. Notable fund activities were observed in two Bitcoin funds managed by Fidelity and Ark Invest with 21Shares.

Ark Invest's spot Bitcoin ETF, ARKB, experienced a significant net outflow of $100 million, the largest single-day outflow since its inception in January. In contrast, Fidelity's FBTC emerged as the frontrunner in net inflows, receiving $119 million.

Other notable movements include Bitwise's BITB gaining $26 million, BlackRock's IBIT experiencing a modest net inflow of $2 million, and Invesco and Galaxy Digital Bitcoin ETF reporting $2 million in net inflows. However, Grayscale's GBTC, which recently climbed to the position of the second-largest Bitcoin ETF by net assets, registered no flows.

Furthermore, data from Asia showed that since their launch, spot Bitcoin ETFs in Hong Kong received an impressive total net inflow of $247.3 million, while spot Ether ETFs attracted $52.5 million. Interestingly, both ETFs did not report any net flow activity on Thursday.

This comprehensive overview of recent movement in spot Bitcoin ETFs showcases the dynamic nature of the market and the varying investor sentiments towards these financial instruments.

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