Key Points
- Spot bitcoin ETFs in the US experienced a daily net inflow exceeding $100 million, with ARKB leading the way.
- Despite the inflow, spot bitcoin ETF volumes have been consistently declining since March 5.
Bitcoin ETFs See Significant Inflows
Spot bitcoin exchange-traded funds (ETFs) in the United States witnessed a daily net inflow surpassing $100 million. The ARK 21 Shares Bitcoin ETF (ARKB) led the charge, with an inflow of approximately $133 million. This influx raised ARKB’s cumulative net inflow to $2 billion.
On the other hand, the Grayscale Bitcoin Trust (GBTC) saw an outflow of $51 million, bringing its total net outflows to $18 billion.
Other Bitcoin ETFs Also Experience Inflows
Other Bitcoin ETFs, including the Fidelity Wise Origin Bitcoin Fund, Invesco Galaxy Bitcoin ETF, VanEck Bitcoin Trust, Valkyrie Bitcoin Fund, and Franklin Bitcoin ETF, also reported net inflows. Meanwhile, some funds, such as BlackRock’s iShares Bitcoin Trust, didn’t see any net inflows.
So far, approximately $11.84 billion in cumulative net inflows have entered US-listed spot bitcoin ETFs.
Despite the recent inflows, volumes of spot bitcoin ETFs have been consistently decreasing since hitting a peak on March 5.
In other related developments, Salim Ramji, former lead of Blackrock Bitcoin ETF, has joined Vanguard as its new CEO. Vanguard has traditionally been inactive in the bitcoin ETF space.
The State of Wisconsin’s Investment Board also revealed that it holds roughly $163 million in spot bitcoin ETFs.
