Categories: Bitcoin

US Spot Bitcoin ETFs secure continued inflows, totaling over $241 million

US Spot Bitcoin ETFs secure continued inflows, totaling over $241 million

US spot Bitcoin traded funds witnessed an additional day of net inflows, raking in $241.12 million. This has been the case for the past six days in a row, taking place after March.

The spot Bitcoin ETFs from companies such as Ark Invest and 21Shares contributed $68 million, while BlackRock’s IBIT witnessed a net inflow of $66 million, a bit behind the two companies, as per the data released by SoSoValue. Fidelity’s FBTC had a net inflow of $64 million. Added to that was Bitwise, whose net inflow amounted to $28 million.

GBTC of Grayscale successfully generated net inflows of $9 million, while BTCW of WisdomTree contributed $5 million.

Considering all eleven spot Bitcoin ETFs, there was a collective net inflow amounting to more than $1.18 billion over a period of six days. If the amount is added to the net inflow figure from January onwards, it reaches $12.87 billion. In spite of it all, the cumulative net inflows pertaining to all eleven ETFs are substantially lesser than their escalation in March, as per the data related to Block’s dashboard. 

In the meantime, according to Block’s price page, the price of Bitcoin climbed by 6.35% and finally reached $71,000. In the opinion of Eric Balchunas and James Seyffart, both ETF analysts with Bloomberg, the probability of the Securities and Exchange Commission granting its consent for spot ether ETFs seems to be inclining towards the positive side.

Roxanne Williams: Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.