Franklin

Source

Billion

Daily

The U.S. saw the largest total net inflow of $302.97 million into spot bitcoin exchange-traded funds (ETFs) since May 3. 
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 <img decoding="async" width="1024" height="393" src="https://www.cryptotimes.io/wp-content/uploads/2024/05/US-Spot-Bitcoin-ETFs-See-302.97M-Daily-Inflow-Fidelitys-FBTC-1024x393.png" alt="US Spot Bitcoin ETFs See $302.97M Daily Inflow Fidelity’s FBTC" class="wp-image-176717" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/05/US-Spot-Bitcoin-ETFs-See-302.97M-Daily-Inflow-Fidelitys-FBTC-1024x393.png 1024w, https://www.cryptotimes.io/wp-content/uploads/2024/05/US-Spot-Bitcoin-ETFs-See-302.97M-Daily-Inflow-Fidelitys-FBTC-800x307.png 800w, https://www.cryptotimes.io/wp-content/uploads/2024/05/US-Spot-Bitcoin-ETFs-See-302.97M-Daily-Inflow-Fidelitys-FBTC-768x295.png 768w, https://www.cryptotimes.io/wp-content/uploads/2024/05/US-Spot-Bitcoin-ETFs-See-302.97M-Daily-Inflow-Fidelitys-FBTC-860x330.png 860w, https://www.cryptotimes.io/wp-content/uploads/2024/05/US-Spot-Bitcoin-ETFs-See-302.97M-Daily-Inflow-Fidelitys-FBTC.png 1134w" sizes="(max-width: 1024px) 100vw, 1024px">
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 Source : SoSoValue
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Fidelity’s FBTC led with $131 million, followed by Bitwise at $86 million. Ark Invest and 21Shares’ ARKB drew in $39 million, while other ETFs from Valkyrie, VanEck, Franklin Templeton, WisdomTree, and Invesco-Galaxy had single-digit inflows, according to <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" target="_blank" rel="noreferrer noopener">SoSoValue</a> data. 
Grayscale’s GBTC, the largest spot bitcoin fund, attracted $27 million in net inflows, marking its third-ever. Meanwhile, BlackRock, the second-largest, experienced zero flows. 
“The large inflows suggest investment advisors and hedge fund managers see BTC ETFs as a unique hedge, offering diversification benefits,” said Rachael Lucas, a crypto analyst at BTC Markets. 
Since their debut in January, spot bitcoin ETFs in the U.S. have seen $12.15 billion in cumulative net inflows. However, trading volume has declined since March’s peak. 
Bitcoin’s price rose 6.65% in the <a href="https://www.cryptotimes.io/2024/05/16/bitcoin-hits-66k-as-crypto-markets-rally/" target="_blank" rel="noreferrer noopener">past 24 hours to $66,081</a>. Millennium Management disclosed it held $1.94 billion in shares of five spot bitcoin ETFs as of March 31, with $844 million in BlackRock’s IBIT. 
Investment advisors and hedge fund managers view BTC ETFs as a unique hedge, offering diversification benefits, as evidenced by the significant inflows into spot bitcoin ETFs in the U.S. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/16/millennium-management-invests-2-billion-in-bitcoin-etfs/" target="_blank" rel="noreferrer noopener">Millennium Management Invests $2 Billion in Bitcoin ETFs</a> 
</blockquote>

US Spot Bitcoin ETFs See $302.97M Daily Inflow Since May 3

The Crypto Times

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