CryptoBitcoinSpot Bitcoin ETFs See Steady Inflows, Led by Fidelity and Bitwise

Spot Bitcoin ETFs See Steady Inflows, Led by Fidelity and Bitwise

Spot bitcoin exchange-traded funds (ETFs) have attracted consistent investor interest, recording daily inflows for five consecutive days, including a substantial $129.5 million on Monday. This marks the highest single-day influx since June 12, contributing to a total of $270 million over the five-day period, as per data from U.K.-based asset manager Farside Investments.

These inflows, although modest compared to the billions amassed since the funds’ approval in January, occur amidst slowing inflation and bitcoin‘s price stabilization following a late June decline. The Fidelity Wise Origin Bitcoin Fund (FBTC) spearheaded Monday’s inflows with $65 million, closely followed by the Bitwise Bitcoin ETF (BITB), which drew over $41 million.

This surge in investment reverses the trend from late June, which saw outflows exceeding $1.3 million. Bloomberg ETF Analyst James Seyffart noted on X, “US #Bitcoin ETF flows have mostly stagnated. Not seeing tons of inflows, not seeing tons of outflows.” Despite this, total inflows remain robust at $14.7 billion for the 11 funds launched earlier this year, though Seyffart pointed out a decline in daily trading volume, which hasn’t reached $3 billion since mid-May.

Interestingly, the BlackRock Bitcoin Trust (IBIT), a leading player in spot ETF inflows over the past six months, reported zero inflows on Monday and has accumulated a modest $124 million since June 10, coinciding with a significant drop in bitcoin’s price. Similarly, the Grayscale Bitcoin Trust (GBTC), now vying with IBIT for the highest assets, also experienced no inflows.

Bitcoin’s price recently hovered near $62,000 after dipping below $59,000 last month, according to crypto market data from CoinMarketCap.

Related Topics:

Share This Post

Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

Related Posts

Bitcoin Hits Record High as Market Bets on Trump Victory

Bitcoin surged to a new all-time high during Asian...

Pair Trade Strategy on Bitcoin and Solana Ahead of U.S. Election

As the U.S. presidential election nears, markets are bracing...

Bitcoin Mining Difficulty Hits All-Time High, Pushing Smaller Miners to the Edge

Bitcoin's mining difficulty surged to an all-time high of...

Cryptocurrency Rally Reverses as U.S. Election Uncertainty Fuels Jitters

A surge in cryptocurrency prices quickly reversed during the...

Smaller Cryptocurrencies Face High Stakes as U.S. Election Nears

Smaller cryptocurrencies such as Dogecoin (Doge) and Solana, which...

Crypto ETF Outflows Surge Ahead of U.S. Election, Fueled by Pre-Election Positioning

Investors pulled $541.1 million from spot Bitcoin ETFs and...