Bitcoin ETFs experience secondhighest daily inflow since March with 8866 million added
The spot Bitcoin exchange-traded funds (ETFs) in the U.S. have recently experienced a surge in net inflows, marking their second-best-ever day. Preliminary data suggests that a total of $886.6 million was invested.
Farside Investors reported that the Fidelity Wise Origin Bitcoin Fund (FBTC) led the way with an inflow of $378.7 million, closely followed by Blackrock’s Bitcoin ETF (IBIT) with $274.4 million. The ARK 21Shares Bitcoin ETF (ARKB) also performed well, attracting $138.7 million in net inflows.
In a rare event, the Grayscale Bitcoin Trust (GBTC) saw an inflow of $28.2 million, marking its seventh inflow day since converting to a spot ETF in January. However, GBTC has faced significant net outflows totaling over $17.8 billion, largely due to its high management fee compared to competitors.
Despite this, Tuesday, June 4, saw the highest net inflow into Bitcoin ETFs since March 12, with a total of over $1.05 billion across all issuers. ETF Store president Nate Geraci responded to critics who doubted the demand for Bitcoin ETFs, questioning how demand could be so high if all potential investors had already bought in.
Bloomberg ETF analyst Eric Balchunas also noted the strong performance of the Bitcoin ETFs, excluding Hashdex’s, on that day. Meanwhile, Hashdex’s Bitcoin ETF (DEFI) has struggled to attract inflows since entering the market later than its counterparts.
Overall, the U.S.-based spot Bitcoin ETFs have been gaining traction, with BlackRock’s iShares Bitcoin Fund (IBIT) surpassing $20 billion in assets under management. Balchunas emphasized the resilience of these ETFs, which attracted approximately $2.4 billion in new investments over the past month, making it one of the top performers in the ETF market.
Despite a brief slowdown in inflows in April, experts believe this is a normal occurrence and that the overall interest in Bitcoin ETFs remains strong. In Australia, the first spot Bitcoin ETF is set to launch soon, further indicating the increasing popularity of these investment vehicles.
