Topic: [2024-05-15] US Bitcoin ETFs See $166.5M Inflows in Early Week Trading Sessions (Read 149 times)

US Bitcoin ETFs See $166.5M Inflows in Early Week Trading Sessions

U.S. spot bitcoin exchange-traded funds (ETFs) experienced two consecutive days of net inflows on Monday and Tuesday, totaling $166.5 million across both sessions.

U.S. Bitcoin ETFs Record 2 Days of Net Inflows

The week began positively for U.S. spot bitcoin ETFs, with notable inflows seen during the initial two trading days. On Monday, the collective trade volume for U.S. BTC ETFs hit $1.22 billion, accompanied by inflows of $66 million. The next day, Tuesday, saw a trade volume of $972 million and inflows amounting to $100.5 million. Notably, the Ark Invest and 21shares ETF, ARKB, saw an influx of $133 million on May 14.

US Bitcoin ETFs See $166.5M Inflows in Early Week Trading Sessions

As of the latest update, ARKB’s records indicate the fund currently manages 45,705 BTC, valued at approximately $2.9 billion based on the current bitcoin exchange rates. Conversely, Grayscale’s Bitcoin Trust (GBTC) reported approximately $51 million in outflows on Tuesday. Currently, GBTC holds about 289,336.91 BTC, valued at roughly $18.39 billion.

GBTC is nearing a pivotal point where it might no longer hold the title of “the largest bitcoin ETF in the world” based on BTC reserves. Blackrock’s IBIT, closely trailing GBTC, has recently experienced stagnant inflows. On Tuesday, IBIT had a neutral day with no net inflows or outflows, maintaining holdings of 274,755.14 BTC worth an estimated $17.47 billion.

The early-week inflows into U.S. spot bitcoin ETFs suggest a slight resurgence of investor confidence in these digital asset funds. As competition intensifies among leading funds like ARKB, GBTC, IBIT, FBTC, and BITB, it underscores the evolving dynamics within bitcoin markets and signals shifts in investor sentiment that could shape future market trends.

Source: https://news.bitcoin.com/us-bitcoin-etfs-see-166-5m-inflows-in-early-week-trading-sessions/