US Bitcoin Spot ETF Records Massive $154 Million Net Inflow
CryptoNewsTerminal Staff23 May, 2024
US Bitcoin Spot ETF Records Massive $154 Million Net Inflow
The United States Bitcoin spot exchange-traded fund (ETF) has seen a significant net inflow of approximately $154 million in the past day. According to data from HODL 15 Capital, three major Bitcoin ETFs, BlackRock IBIT, Fidelity FBTC, and Ark 21Shares Bitcoin, reported substantial inflows, totaling $92 million, $75 million, and $4 million, respectively. This surge in investment highlights the growing interest in Bitcoin and its potential as an asset class. The Bitcoin spot ETF provides investors with an accessible and regulated way to gain exposure to Bitcoin's price movements. Despite the overall positive sentiment, Grayscale Bitcoin Trust (GBTC), the largest Bitcoin investment vehicle, reported an outflow of $16 million. This outflow may be attributed to investors seeking more diversified or actively managed Bitcoin investment options. The bullish sentiment toward Bitcoin spot ETFs is expected to continue, driven by increasing institutional adoption and regulatory clarity. As the cryptocurrency market matures, spot ETFs are expected to play a crucial role in providing investors with secure and convenient access to Bitcoin.
