Bitcoin Spot ETFs Receive $235 Million in Inflows on May 20
CryptoNewsTerminal Staff21 May, 2024
Bitcoin Spot ETFs Receive $235 Million in Inflows on May 20
According to the latest data from CryptoCompare, U.S. Bitcoin spot ETFs saw inflows of $235 million on May 20. This marks a significant increase from the previous day, when inflows were just $100 million. The ETF with the largest inflows was Ark 21Shares ARKB ($68.3 million), followed by BlackRock IBTC and Fidelity FBTC with $65 million and $64 million respectively. Grayscale's GBTC also saw inflows of $9.3 million. These inflows suggest that investors are becoming increasingly bullish on Bitcoin, and are looking for ways to gain exposure to the asset without having to buy and hold it directly. Bitcoin spot ETFs provide a convenient and regulated way for investors to do this. It is important to note that these inflows are still relatively small compared to the overall size of the Bitcoin market. However, they do suggest that there is growing interest in Bitcoin spot ETFs, and that this could be a trend that continues in the future.
