Bitcoin ETFs see second highest daily inflow since March adding 8866 million
Bitcoin ETFs in the U.S. have recently seen a significant surge in net inflows, reaching $886.6 million in one day, the second-highest amount on record. Farside Investors reported that the Fidelity Wise Origin Bitcoin Fund (FBTC) led the way with $378.7 million in inflows, followed by Blackrock’s Bitcoin ETF (IBIT) with $274.4 million. The ARK 21Shares Bitcoin ETF (ARKB) also performed well, bringing in $138.7 million.
Additionally, Grayscale Bitcoin Trust (GBTC) experienced a rare net inflow day, receiving $28.2 million. This is only the seventh inflow day for GBTC since it became a spot ETF in January. However, GBTC has faced significant net outflows totaling over $17.8 billion due to its high management fee of 1.5%, compared to lower fees offered by competitors.
Despite this, Tuesday, June 4, marked the highest net inflow day for Bitcoin ETFs since March 12, when over $1.05 billion was recorded. ETF Store president Nate Geraci responded to critics who doubted the demand for Bitcoin ETFs, highlighting the ongoing interest among investors.
Meanwhile, Bloomberg ETF analyst Eric Balchunas noted the significant inflows into Bitcoin ETFs, excluding Hashdex’s, and highlighted the growing interest in these investment vehicles. Hashdex’s Bitcoin ETF (DEFI) has struggled to attract inflows compared to its counterparts.
In May, U.S.-based Bitcoin ETFs saw 15 consecutive sessions of net inflows, leading to BlackRock’s iShares Bitcoin Fund (IBIT) surpassing $20 billion in assets under management for the first time. Balchunas emphasized the resilience of these ETFs, bouncing back from selloffs and continuing to attract new investments.
Despite a slowdown in inflows in April, experts believe that this is a normal phenomenon for ETFs. Overall, the growing interest in Bitcoin ETFs signals a positive trend in the market.
