Bitcoin ETF

Bitcoin

when

Grayscale Bitcoin Trust

Spot

For the second time in May, spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="">BTC</a>) ETFs have exceeded $300 million in inflows, with significant contributions from BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC). 
Market data from Farside Investors <a href="https://farside.co.uk/?p=997" target="_blank" rel="">indicates</a> that these investment products saw $305 million in inflows on May 21 despite several ETF products, including the Grayscale Bitcoin Trust (GBTC) reporting zero flows. Notably, only two products experienced inflows, while two registered outflows. 
BlackRock’s IBIT led the inflows with $290 million, with Fidelity’s FBTC reporting an inflow of $25.8 million. The Bitwise Bitcoin ETF (BITB) witnessed outflows amounting to $4.2 million, and VanEck Bitcoin Trust ETF (HODL) equally saw $5.9 million in capital exit. 
 You might also like: <a href="https://crypto.news/u-s-prosecutors-seek-five-to-seven-year-sentence-for-ftxs-ryan-salame/" rel=""> U.S. prosecutors seek five to seven year sentence for FTX’s Ryan Salame </a> 
Notably, IBIT surpassed FBTC in inflows for the second time this week, recording more substantial inflows for two consecutive days. This comes after FBTC <a href="https://crypto.news/fidelity-leads-as-spot-btc-etfs-start-the-week-with-positive-flows/" rel="">led</a> the market on several occasions last week, surpassing IBIT on days when the product saw zero flows. The ETF market has now seen $13.17 billion in positive net flows since its launch in January. 
The recent wave of inflows has contributed to a <a href="https://crypto.news/bitcoin-surges-to-71k-as-analysts-cite-increased-spot-etf-inflows/" rel="">surge</a> in Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="">BTC</a>) value, which breached the $71,000 mark on Tuesday. The price upswing has sparked debate within the cryptocurrency community on whether the rally signifies the beginning of a bull market or the market reaching its peak. 
Analyst Eric Balchunas had <a href="https://crypto.news/bitcoin-etf-april-outflows/" rel="">predicted</a> long-term returns following the outflows in April. He noted that Bitcoin ETFs have already seen $1.3 billion in inflows in May, offsetting April’s negative inflows, bringing the total inflows since launch to $12.3 billion. 
 Read more: <a href="https://crypto.news/ethereum-etf-applicants-submit-19b-4-forms/" rel=""> Ethereum ETF applicants submit 19b-4 forms </a>

Spot Bitcoin ETFs surpass $300m in inflows

crypto.news

Other articles published on May 22, 2024

WisdomTree Lists Bitcoin and Ethereum ETPs on London Stock Exchange

BlockDAG’s X30 Mining Rig and Dashboard Revamp Outshines Pepe and Quant (QNT) Price Movements

XRP starts to rise amidst Ethereum ETF hopes: What’s next?

SEC Reverses Position on ETH ETF Applications

Analysts Express Concerns as Bitcoin Fails to Hold Above $69,000 Amid Market Volatility

Nexo Fee Fury: Users Slam Crypto Exchange After Surprise Hike

Join our free newsletter for daily crypto updates!