Fidelity's FBTC Dominates US Spot Bitcoin ETFs 🚀📈

US Bitcoin ETFs See Positive Net Inflows After Week-Long Outflows

Recently, US spot Bitcoin ETFs experienced a positive change in trend, bringing in $31 million in net inflows after a seven-day period of continuous net outflows across most funds. This shift in momentum saw three funds attracting inflows, two facing outflows, and the remaining funds recording no flows for the day.

– Fidelity’s FBTC led with inflows of $49 million
– Bitwise’s BITB reported $15 million in inflows
– VanEeck’s HODL experienced net inflows of $4 million
– Grayscale’s GBTC saw net outflows of $30.3 million
– ARK Invest and 21Shares’ ARKB recorded $6 million in net outflows
– BlackRock’s IBIT, the largest spot Bitcoin ETF in terms of net asset value, reported zero net flows
– Other funds such as BTCO, BRRR, EZBC, and BTCW managed by Invesco, Galaxy Digital, Valkyrie, Franklin Templeton, and WisdomTree, respectively, also recorded zero net flows
– The 11 spot ETFs have attracted a total net inflow of more than $14.4 billion

Spot Ether ETF Launch Anticipated

While spot Bitcoin ETFs have been trading for almost six months, their Ether counterparts are yet to make an appearance. Speculations suggested a potential launch in July, but the US Securities and Exchange Commission (SEC) has remained tight-lipped about it.

– SEC Chief Gary Gensler mentioned that the spot Ether ETF process in the US is progressing smoothly
– Gensler confirmed that the final registration steps, known as S-1 filings, are currently in progress at the staff level
– Eight ETF bidders received approval for 19b-4 filings on May 23, but they are still working on their Form S-1s, the final requirement for trading approval

Hot Take: Conclusion For Crypto Investors

As a crypto investor, it is essential to keep track of the latest trends in the ETF market to make informed decisions about your investments. Understanding the flows and movements within the market can provide valuable insights into the behavior and sentiment of other investors.

– Stay updated on the performance of different ETFs and monitor net inflows and outflows
– Consider diversifying your portfolio with a mix of Bitcoin and Ether ETFs once the latter becomes available
– Seek expert advice and conduct thorough research before making any investment decisions to mitigate risks and maximize returns