Spot Bitcoin Exchange-Traded Funds (ETFs) Continue to Gain Momentum 🚀
The inflow of funds into spot Bitcoin exchange-traded funds (ETFs) has been on an upward trajectory, with a significant increase in inflows on June 4th, marking the second-highest figure on record. Here are the key highlights:
- Data from Soso Value indicates a daily total net inflow of $886.7 million on June 4th
- The highest inflow recorded was $1.05 billion on March 12th
- Cumulative total net inflow reached $14.85 billion as of June 4th
- BlackRock’s iShares Bitcoin Trust (IBIT) leads with an inflow of $17 billion
- Fidelity Wise Origin Bitcoin Fund (FBTC) follows with $9 billion
- ARK 21Shares Bitcoin ETF (ARKB) comes in third with $3 billion
- Bitwise Bitcoin ETF (BITB) and Invesco Galaxy Bitcoin ETF (BTCO) have inflows of $2 billion and $317 million respectively
The Rise of Spot Bitcoin ETFs
Since receiving approval from the U.S. Securities and Exchange Commission (SEC) in January, spot Bitcoin ETFs have continued to attract investor interest. The following data sheds light on the growing popularity of Bitcoin ETFs:
- 12 of the 25 largest US hedge funds have over $2.6 billion in Bitcoin ETF exposure
- 11 out of 25 Registered Investment Advisors (RIAs) are also invested in Bitcoin ETFs
- Professional firms investing in Bitcoin ETFs outpace those investing in gold ETFs in the first quarter of the year
- Investor interest in Bitcoin ETFs has been steadily increasing since May 13th
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Generated Image: Midjourney
Hot Take: The Future of Spot Bitcoin ETFs 🔥
The surge in inflows into spot Bitcoin ETFs highlights the growing appeal of crypto investment products among institutional investors. With increasing exposure from hedge funds and investment firms, Bitcoin ETFs are set to play a significant role in the mainstream adoption of cryptocurrencies.
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