US Spot Bitcoin ETFs Attract $105M Daily
Fidelity's FBTC leads a surge as US spot Bitcoin ETFs attract $105 million in daily inflows, highlighting robust investor interest despite market downturns.
On June 3, 2024, US spotBitcoin ETFs saw a significant inflow of $105 million, with Fidelity’s FBTC leading. Despite Bitcoin's (BTC) drop from $73,000 to $69,000, these ETFs have had 15 consecutive days of inflows, showing strong investor interest.
According to SoSoValue, the 11 approved Bitcoin ETFs in the US have collectively attracted $13.96 billion in net inflows by June 3. In the past 24 hours, $105 million was invested, with Fidelity’s FBTC receiving $77 million. Bitwise’s BITB followed with $14 million.
During the same period, Ark Invest and 21Shares' ARKB received $11 million, while VanEck and WisdomTree's spot ETFs had minimal inflows of under $2 million each.
BlackRock and Grayscale, despite their size, saw no new investments on Monday. Last week, BlackRock’s iShares Bitcoin Trust (IBIT) became the world’s largest crypto ETF with nearly $20 billion in assets, surpassing Grayscale Bitcoin Trust (GBTC).
Globally, crypto-related investment products saw $2 billion in inflows in May, according to CoinShares. This includes markets in the US, Europe, and Hong Kong. Hong Kong's approval of Bitcoin and Ethereum ETFs on April 30, 2024, has contributed to this growth. Australia has also started trading its first Bitcoin ETFs, with Monochrome listing on Cboe Australia.
Thailand has approved its first Bitcoin ETF, submitted by One Asset Management (ONEAM). This will allow institutional investors in Thailand to access the crypto market securely through investments in top global Bitcoin funds.
In summary, the recent surge in US spot Bitcoin ETFs, led by Fidelity’s FBTC, and the global acceptance of crypto ETFs reflect the growing demand and integration of digital assets into mainstream investment portfolios.
