Bitcoin ETF

Bitcoin

Spot

<img decoding="async" width="1260" height="710" src="https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2.jpg" class="attachment-full size-full wp-post-image" alt="Bitcoin ETF To Grab $5B AUM From Over 700 Institutional Investors: Bitwise CIO" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2.jpg 1260w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2-300x169.jpg 300w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2-1224x690.jpg 1224w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2-768x433.jpg 768w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2-678x381.jpg 678w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2-150x85.jpg 150w" sizes="(max-width: 1260px) 100vw, 1260px">
<p>U.S. spot Bitcoin ETFs have returned to the spotlight as trading volumes surged this week. On Thursday, May 16, <a href="https://coingape.com/bitcoin-etf-trading-volumes-see-sharp-surge-gbtc-clocks-27-million-in-inflows/" target="_blank" rel="noopener">spot Bitcoin ETFs</a> saw $257 million in net inflows, with GBTC reporting inflows for the second consecutive day.</p> 
<h3 id="bitcoin-etf-inflows-bounce-back-this-week">Bitcoin ETF Inflows Bounce Back This Week</h3> 
<p>After seeing some major outflows last week, the U.S. Bitcoin ETFs have bounced back strongly with over $657 million in inflows till Thursday. As per the on-chain data, the BTC ETFs have scooped a total of 11,188 Bitcoins which is nearly five times the Bitcoins mined.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9ee.png" alt="🧮" class="wp-smiley" style="height: 1em; max-height: 1em;"> Week-to-date 1,800 <a rel="nofollow" href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> was mined (450×4) <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26cf.png" alt="⛏" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
 <p><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> Week-to-date, U.S. Bitcoin ETFs bought 11,188 <a rel="nofollow" href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9ee.png" alt="🧮" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a rel="nofollow" href="https://t.co/b2unkrr8G0">pic.twitter.com/b2unkrr8G0</a></p> 
 <p>— HODL15Capital <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@HODL15Capital) <a rel="nofollow" href="https://twitter.com/HODL15Capital/status/1791305879444173265?ref_src=twsrc%5Etfw">May 17, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>As of May 16, US Bitcoin spot ETFs witnessed a total net inflow of $257 million. Grayscale’s ETF GBTC experienced a notable single-day net inflow of $4.6382 million. Additionally, BlackRock’s ETF IBIT recorded a net inflow of $93.7004 million, while Fidelity’s ETF FBTC saw a net inflow of $67.0829 million within the same timeframe.</p> 
<p>As we have seen over the last week, some of the big market players in traditional finance have been declaring their exposure to Bitcoin ETFs. This shows that <a href="https://coingape.com/bitcoin-etf-to-grab-5b-aum-from-over-700-institutional-investors-bitwise-cio/" target="_blank" rel="noopener">institutional participation in Bitcoin ETF</a> is strong and likely to continue going ahead. As per the data from Bitwise asset management, more than 700 institutional investors are likely to seek exposure to these Bitcoin funds.</p> 
<h3 id="hong-kong-bitcoin-etfs-have-lackluster-performance">Hong Kong Bitcoin ETFs Have Lackluster Performance</h3> 
<p>The initial excitement surrounding <a href="https://coingape.com/hong-kong-bitcoin-and-ether-etfs-see-record-net-outflows-since-launch/" target="_blank" rel="noopener">Hong Kong’s first exchange-traded funds (ETFs)</a> investing directly in cryptocurrency has fallen short compared to their US counterparts. Data from Bloomberg reveals that the total assets of the six Bitcoin and Ether ETFs have decreased by approximately $25 million from the initial $293 million gathered at their debut two weeks ago, indicating investor outflows.</p> 
<figure id="attachment_197364" aria-describedby="caption-attachment-197364" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-197364" src="https://coingape.com/wp-content/uploads/2024/05/Hong-Kong-Bitcoin-ETF-Outflows.jpg" alt="" width="620" height="349" srcset="https://coingape.com/wp-content/uploads/2024/05/Hong-Kong-Bitcoin-ETF-Outflows.jpg 620w, https://coingape.com/wp-content/uploads/2024/05/Hong-Kong-Bitcoin-ETF-Outflows-300x169.jpg 300w, https://coingape.com/wp-content/uploads/2024/05/Hong-Kong-Bitcoin-ETF-Outflows-150x84.jpg 150w" sizes="(max-width: 620px) 100vw, 620px">
 <figcaption id="caption-attachment-197364" class="wp-caption-text">
  Courtesy: Bloomberg
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<p>Le Shi, head of trading at market-making and algorithmic trading firm Auros, described the response to the Hong Kong launches as “lukewarm” so far. Speaking to <a rel="nofollow" href="https://www.bloomberg.com/news/articles/2024-05-16/hong-kong-s-shaky-crypto-etf-debuts-dent-global-hub-aspirations" target="_blank">Bloomberg</a>, he added:</p> 
<blockquote>
 <p>“Firstly, they got beaten to the punch by the US. Secondly, there’s ongoing uncertainty about China’s intentions with regards to crypto, which is causing potential investors to tread carefully, or avoid the jurisdiction altogether.”</p>
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<p>Bloomberg Intelligence ETF Analyst Rebecca Sin highlighted some positives from the launches, noting that total assets have already surpassed $250 million. Sin anticipates that more issuers will “join the race” as the ecosystem evolves, predicting that these portfolios could accumulate $1 billion within two years.</p> 
<p>The post <a href="https://coingape.com/u-s-spot-bitcoin-etfs-bought-5-times-the-btc-mined-this-week/">U.S. Spot Bitcoin ETFs Bought 5x The Total BTC Mined This Week</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

U.S. Spot Bitcoin ETFs Bought 5x The Total BTC Mined This Week

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