Continuous Inflows: BTC Spot ETFs See $48.8 Million Surge, Marking 14 Days of Positive Sentiment
CryptoNewsTerminal Staff01 Jun, 2024
Continuous Inflows: BTC Spot ETFs See $48.8 Million Surge, Marking 14 Days of Positive Sentiment
Recent data from Farside Investors reveals that U.S. Bitcoin spot ETFs experienced a significant inflow of approximately $48.8 million on May 31 (local time). This surge marks an impressive 14 consecutive trading days of net inflows into these ETFs. Notably, BlackRock's iShares Bitcoin Trust (IBIT) received a major share of the inflows, accounting for $169 million. Fidelity's Wise Origin Bitcoin Trust (FBTC) also witnessed a substantial inflow of $59 million. However, VanEck's Bitcoin Strategy ETF (HODL) and Grayscale's Bitcoin Trust (GBTC) faced net outflows of $19 million and $124 million, respectively. Since the inception of BTC spot ETFs, cumulative net inflows have reached an impressive $13.858 billion, demonstrating the growing interest and confidence in this asset class. This sustained inflow is a clear indication of the continued bullish sentiment among investors towards Bitcoin and its potential as a long-term investment option.
