U.S. Bitcoin Spot ETF Continues Inflow Streak, Attracting $48.7 Million
CryptoNewsTerminal Staff31 May, 2024
U.S. Bitcoin Spot ETF Continues Inflow Streak, Attracting $48.7 Million
U.S. Bitcoin spot exchange-traded funds (ETFs) have seen another day of significant inflows, with the latest data showing a net inflow of $48.7 million on January 30th. This marks the 13th consecutive day of inflows for these ETFs. According to data from financial information platform Farside Investors, the bulk of the inflows went to Fidelity FBTC, which saw $119 million invested. Bitwise BITB also saw a significant inflow of $25.93 million. Grayscale GBTC, the largest Bitcoin ETF, did not experience any significant inflows or outflows. The continued inflows into Bitcoin spot ETFs suggest that investors are increasingly seeking exposure to the cryptocurrency, despite the recent market volatility. These ETFs provide investors with a way to invest in Bitcoin without having to purchase and store the cryptocurrency themselves. Despite the inflows, the prices of Bitcoin and other cryptocurrencies have been under pressure in recent weeks. The total market capitalization of cryptocurrencies has fallen by over $500 billion since the beginning of the year. It remains to be seen whether the inflows into Bitcoin spot ETFs will continue if the market continues to decline.
