Galaxy

Bitcoin

Million

Spot

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Spot bitcoin ETFs in the U.S. saw a total daily net inflow of $302.97 million, with Fidelity’s FBTC leading the pack.</li>
 <li>Despite decreasing trading volumes, the cumulative net inflow of $12 billion since January indicates continued interest in these financial instruments.</li>
</ul>
<p>Spot bitcoin exchange-traded funds (ETFs) in the United States reported a significant daily net inflow of $302.97 million, marking the largest since May 3. The inflow was spearheaded by Fidelity’s FBTC, which reported daily inflows worth $131 million.</p>
<h2 id="other-significant-inflows">Other Significant Inflows</h2>
<p>The Bitwise fund followed closely with $86 million in inflows. Other notable contributions included Ark Invest and 21Shares’ ARKB, which brought in $39 million. ETFs managed by Valkyrie, VanEck, Franklin Templeton, WisdomTree, Invesco, and Galaxy Digital also reported single-digit net inflows.</p>
<h2 id="spot-bitcoin-fund-inflows">Spot Bitcoin Fund Inflows</h2>
<p>The largest spot <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> fund in terms of net asset value, Grayscale’s GBTC, recorded its third-ever net inflows, adding $27 million. In contrast, BlackRock, the second largest, recorded no flows.</p>
<p>Investment advisors and hedge fund managers are increasingly viewing Bitcoin ETFs as a unique hedge, offering diversification benefits that traditional asset classes cannot provide. This is evident in the cumulative net inflow of $12 billion since their introduction in January, indicating the enduring appeal of these financial instruments despite recent market fluctuations.</p>
<p>As of Wednesday, the 11 spot bitcoin ETFs in the U.S. have attracted $12.15 billion in cumulative net inflows. However, trading volumes on these ETFs have been on a steady decline since peaking in March.</p>
<p>The price of Bitcoin increased 6.65% in the past 24 hours to $66,081. On the same day, New York-based hedge fund Millennium Management disclosed that it held $1.94 billion worth of shares in five spot bitcoin ETFs as of March 31. The largest allocation was in BlackRock’s IBIT, amounting to approximately $844 million.</p>

Fidelity’s FBTC Leads as Bitcoin ETFs Witness $302 Million Surge

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