Bitcoin Spot ETFs See $307 Million Net Inflow on 5/21
CryptoNewsTerminal Staff22 May, 2024
Bitcoin Spot ETFs See $307 Million Net Inflow on 5/21
Crypto analyst @HODL15Capital reported a net inflow of $307 million into ten U.S. bitcoin spot ETFs on May 21st. BlackRock's iShares Blockchain and Bitcoin ETF (IBIT) led the inflows with a staggering $291 million. Fidelity Bitcoin ETF (FBTC) also saw significant inflows of $26 million. On the other hand, Bitwise Bitcoin ETF (BITB) and VanEck Bitcoin Strategy ETF (HODL) had modest net outflows of $4 million and $6 million, respectively. These inflows suggest growing institutional interest in bitcoin as an investment asset. Spot ETFs provide investors with exposure to the underlying asset, in this case, bitcoin, without the need to directly hold or manage the cryptocurrency. The inflow on May 21st contributed to a positive week for bitcoin spot ETFs. These funds have seen a total inflow of over $1 billion in the past month, indicating a sustained investor appetite for bitcoin exposure.
