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The recent activity in the cryptocurrency Bitcoin has created a positive buzz in the spot Bitcoin ETF arena. Investors are pouring significant money into ETFs with every BTC rise. It’s now a fact: when Bitcoin price rises, there are significant inflows into spot Bitcoin ETFs. Of course, the reverse is also true. If BTC price falls, outflows from spot Bitcoin ETFs can be expected. Let’s take a look at yesterday’s numbers.
Spot Bitcoin ETFs See Inflows of $422.67 Million
As the flagship cryptocurrency Bitcoin price rose above $66,000, we saw a substantial inflow into Spot Bitcoin ETFs. The largest inflow occurred in BlackRock’s spot Bitcoin ETF, IBIT, with an inflow of $260.23 million, bringing the total assets to $20.92 billion.
Following BlackRock, the largest inflow was into Fidelity’s spot Bitcoin ETF, amounting to $61.05 million. Fidelity’s spot Bitcoin ETF’s total assets reached $11.59 billion. These two ETFs significantly dominated the spot Bitcoin ETF arena yesterday.
How Did Other ETFs Perform?
Other spot Bitcoin ETFs also saw inflows. Ark Invest’s ETF saw an inflow of $29.85 million, while VanEck’s spot Bitcoin ETF saw an inflow of $22.04 million. Invesco was notable with an inflow of $20.54 million.
Bitwise saw inflows of $17.34 million, while smaller inflows were seen in Franklin with $9.42 million and Valkyrie with $2.21 million.
Grayscale, WisdomTree, and Hashdex’s spot Bitcoin ETFs saw no inflows and recorded zero activity yesterday. While these numbers shape the spot Bitcoin ETF arena, spot Ethereum ETFs are also expected to hit the market soon, with a target date of July 23, 2024. The introduction of these ETFs is expected to enliven the cryptocurrency market. In the future, we will present spot Ethereum figures alongside spot Bitcoin ETF numbers.
