US-based Bitcoin exchange-traded funds (ETFs) saw a significant influx of funds, totaling $887 million in combined net inflows, marking one of their best-performing days.
Fidelity Wise Origin Bitcoin Fund (FBTC) led the pack with $378.7 million in inflows, followed closely by BlackRock’s iShares Bitcoin Trust (IBIT) at $275 million, based on data from Farside Investors and X account HODL15Capital.
The ARK 21Shares Bitcoin ETF (ARKB) attracted over $138 million in net inflows, marking its highest influx since March 12 and aligning with a record-breaking day where these ETFs amassed $1.04 billion before Bitcoin hit its all-time high on March 13.
Contrasting this trend, Grayscale Bitcoin Trust (GBTC) saw a rare inflow day at $28.2 million, marking its seventh inflow day since transitioning to a spot ETF in January. Despite this, GBTC faced significant net outflows exceeding $17.8 billion due to its relatively high management fee and narrowed discount.
Grayscale’s Bitcoin fund, which originally held 620,000 BTC at the spot Bitcoin ETFs’ launch, now stands at 285,481 BTC, valued at $20.2 billion, according to the Apollo Bitcoin Tracker.
Nate Geraci, president of ETF Store, responded to skeptics who doubted the demand for Bitcoin ETFs, highlighting the strong investor interest despite initial reservations. Bloomberg ETF analyst Eric Balchunas also noted substantial flows across most Bitcoin ETFs, except for Hashdex’s, which struggled to attract inflows.
As Bitcoin surged by 2.9% to $71,000 within the last 24 hours, ETFs from Invesco Galaxy, Franklin Templeton, WisdomTree, and Hashdex observed no demand on June 4.
These developments underscore the increasing investor appetite for Bitcoin investments through ETFs, highlighting the growing confidence in this asset class despite the challenges some ETFs face in attracting inflows.
Also Read: Thailand SEC Approves First Bitcoin ETF For Investors
