Bitcoin Spot ETFs See $84.17M Inflow, 7th Day of Gains
1min read Yesterday, the Bitcoin spot ETF experienced a total net inflow of $84.1736 million, marking the seventh consecutive day of net inflows. This sustained inflow indicates a growing interest and investment in Bitcoin through exchange-traded funds (ETFs).
The Fidelity Bitcoin ETF (FBTC) led the way with the highest net inflow on a single day, amounting to $82.8549 million. This significant inflow brings FBTC's total historical net inflow to $11.465 billion, underscoring its dominance in the Bitcoin ETF market. Following closely was the Bitwise ETF (BITB), which saw a net inflow of $19.2254 million, pushing its total historical net inflow to $2.043 billion.
On the other hand, the arkb ETF from ark Invest and 21Shares experienced the highest net outflow on a single day, totaling $40.9696 million. Despite this outflow, ARKB's total historical net inflow remains substantial at $2.633 billion.
As of the latest data, the net asset value of Bitcoin spot ETFs stands at $99.314 billion. The ETFs' net asset ratio, which represents the market value as a percentage of the total Bitcoin market value, is 5.7%. The total cumulative net inflow for these ETFs has reached $36.133 billion, highlighting the increasing institutional and retail interest in Bitcoin through regulated investment vehicles.
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This continuous inflow into Bitcoin spot ETFs suggests a bullish sentiment among investors, who are increasingly viewing Bitcoin as a viable and attractive asset class. The sustained net inflows over seven consecutive days reflect a growing confidence in the long-term potential of Bitcoin, despite the inherent volatility of the cryptocurrency market. Investors are likely drawn to the convenience and regulatory compliance that ETFs offer, making them a preferred choice for gaining exposure to Bitcoin.
