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Bitcoin Spot ETFs Record $887M Inflow On Wednesday, Second-Highest Ever

Published 05/06/2024, 11:27
Updated 05/06/2024, 12:40
© Reuters.  Bitcoin Spot ETFs Record $887M Inflow On Wednesday, Second-Highest Ever

Benzinga - Bitcoin spot ETFs on June 4 recorded a net inflow of $887 million, marking the second-highest single-day net inflow in history.

Grayscale, Fidelity, And BlackRock Lead The Charge

Grayscale’s Bitcoin Investment Trust (OTC:GBTC) saw an inflow of $28.19 million, while Fidelity’s Wise Origin Bitcoin Fund (BATS:FBTC) brought in $379 million, according to data from SoSo Value.

BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) saw an inflow of $274 million and the Ark Invest and 21 Shares (BATS:ARKB) also recorded a $139 million inflow. Bitwise’s Bitcoin ETF (BATS:BITB) netted a $61 million inflow.

These figures highlight the growing role of established financial institutions in the cryptocurrency space.

Year-to-Date Inflows Surpass $15 Billion: A Bullish Market

According to a report by Coinshares, digital asset investment products have seen inflows for the fourth consecutive week, totaling $185 million.

This momentum builds on a record-breaking May, which witnessed $2 billion in inflows. Year-to-date inflows have now eclipsed $15 billion for the first time ever.

Also Read: Mike Novogratz Predicts Bitcoin To $100K By The End Of 2024

Bitcoin Dominates, Ethereum Makes A Comeback

Bitcoin (CRYPTO: BTC) remains the king of inflows, attracting $148 million this past week.

Interestingly, short-bitcoin products experienced outflows of $3.5 million, further indicating positive investor sentiment towards the leading cryptocurrency.

Ethereum is also experiencing a resurgence.

Following the SEC approval of a spot-based Ethereum ETF, expected to launch in July, the asset saw its second week of inflows, totaling $11.3 million.

This positive news for Ethereum (CRYPTO: ETH) appears to have a ripple effect, with Solana (CRYPTO: SOL) also seeing inflows of $5.8 million last week.

Navigating The Digital Asset Landscape: Benzinga’s Future Of Digital Assets

With the digital asset market experiencing explosive growth and continuous evolution, staying informed is paramount.

The upcoming Benzinga Future of Digital Assets event, scheduled for Nov. 19 offers a valuable platform for investors of all levels.

Read Next: Bitcoin Touches $71K Amid ‘Unprecedented Inflow Access For Traditional Capital’

Image: Shutterstock

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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