Spot Bitcoin ETFs in the US Have Daily Inflow of $302.97M Since May 3

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

According to data from SoSoValue, spot bitcoin exchange-traded funds (ETFs) in the U.S. have had a total net inflow of $302.97 million since May 3. Fidelity's FBTC led with $131 million, followed by Bitwise with $86 million. Ark Invest and 21Shares' ARKB received $39 million in inflows, while other ETFs from Valkyrie, VanEck, Franklin Templeton, WisdomTree, and Invesco-Galaxy had lower single-digit inflows.

Grayscale's GBTC, the largest spot bitcoin fund, saw $27 million in net inflows, the third-highest amount ever recorded. On the other hand, BlackRock, the second-largest fund, had no flows during this period.

Investment advisors and hedge fund managers believe that BTC ETFs serve as a unique hedge and provide diversification benefits, which is evident from the substantial inflows into spot bitcoin ETFs in the U.S. Since their launch in January, these ETFs have accumulated $12.15 billion in net inflows, although trading volume has decreased since its peak in March.

In the past 24 hours, Bitcoin's price has increased by 6.65% to $66,081. Millennium Management revealed holdings of $1.94 billion in shares of five spot bitcoin ETFs as of March 31, of which $844 million was invested in BlackRock's IBIT.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Fold Focuses on Customer Retention with New Products

Fold focuses on customer retention and balances with new products like Fold Reserve and Lead Bank spending accounts.

user avatarNguyen Van Long

Onramp Introduces New Business Bitcoin Account with Enhanced Security Features

Onramp has launched a new business Bitcoin account focusing on security and governance, supporting up to three named users and role-based permissions.

user avatarKofi Adjeman

Fold Reports $42 Million Revenue and $26 Million Net Loss in Q3

Fold reported $42 million in revenue and a $26 million net loss for Q3, attributing growth to Bitcoin gift card sales via TikTok Shop.

user avatarSatoshi Nakamura

Hyperscale Data Shifts Focus to Mining and Infrastructure Development

Hyperscale Data plans to generate future Bitcoin balances primarily from mining while targeting infrastructure development.

user avatarJesper Sørensen

Hyperscale Data Completes Sale of Remaining Bitcoin Reserves

Hyperscale Data has sold its remaining Bitcoin reserves, raising approximately $16 million for debt reduction and its Michigan AI campus.

user avatarRajesh Kumar

Coalition of Major Players Opposes Illinois Digital Asset Tax

A broad coalition, including the US Justice Department and major crypto firms, challenges Illinois' Digital Asset Tax Act, arguing it is punitive and discriminatory.

user avatarLucas Weissmann

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.