Led by FBTC, spot bitcoin ETFs see net inflows of nearly $66 million
Quick Take
- Spot bitcoin exchange-traded funds in the United States saw nearly $66 million in spot inflows yesterday.
Spot bitcoin exchange-traded funds in the United States saw nearly $66 million in total net inflows yesterday — pushing the products' cumulative total net inflow since their listings to nearly $11.75 billion.
The most popular spot bitcoin ETF was Fidelity's ofering. The Fidelity Wise Origin Bitcoin Fund garnered $39 million in one-day net inflows, per data from SoSo Value.
The Bitwise Bitcoin ETF (BITB) and VanEck Bitcoin Trust ETF (HODL) also brought in $20 million and $7 million, respectively.
No other spot bitcoin ETFs — including Grayscale's converted Bitcoin Trust, GBTC, which has seen some $18 billion in cumulative net outflows — recorded net flows in either direction.
Though yesterday saw spot bitcoin ETF volumes pick up to their highest level since the start of the month, the overall trend is still down, as illustrated by data from The Block's Data Dashboard.
Spot bitcoin ETFs' daily assets under management have decreased slightly but steadily since early April — mirroring more outflows in recent weeks.
Meanwhile, in Hong Kong, the special administrative region's bitcoin ETFs reportedly saw net outflows on 535 BTC yesterday — which, according to K33 Research senior analyst Vetle Lunde, pushes the region's aggregated bitcoins under management to back below its seed BUM.
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