Key Points
- Spot Bitcoin ETFs in the U.S. witnessed their fourth consecutive day of inflows, amounting to $257 million yesterday.
- Major financial institutions disclosed significant stakes in spot Bitcoin funds during the first quarter 13F reporting season.
Spot Bitcoin exchange-traded funds (ETFs) in the U.S. reported a total daily net inflow of $257.34 million on Thursday. This marked the fourth consecutive day of inflows.
Details of Inflows
BlackRock’s IBIT, the second-largest in terms of net asset value, saw the largest inflow of $94 million. This was according to data from SoSoValue. Prior to this, IBIT had reported mostly zero to minimal flows in the past three weeks.
Fidelity’s FBTC fund saw an inflow of $67 million. Ark Invest and 21Shares’ Bitcoin ETF reported net inflows of $62 million.
Grayscale’s GBTC, which had recorded large net outflows on most days since its conversion in January, saw a daily net inflow of $4.64 million. Other funds like Valkyrie’s Bitcoin ETF saw inflows of $18.5 million. Funds from Bitwise, Franklin Templeton, Invesco, and Galaxy Digital reported single-digit inflows.
Reporting Season and Stake Disclosures
These consecutive net inflows from the 11 spot Bitcoin ETFs came during Wall Street’s first quarter 13F reporting season. Major financial entities disclosed their stakes in the spot Bitcoin funds. These stakes were larger than some had anticipated.
Morgan Stanley held spot Bitcoin ETFs worth over $270 million as of the end of March. Millennium Management revealed a staggering stake of $1.94 billion in shares across five Bitcoin funds. The State of Wisconsin Investment Board also disclosed holdings of $163 million in BlackRock and Grayscale’s funds.
The 11 spot Bitcoin ETFs in the U.S. have accumulated $12.40 billion worth of net inflows so far, according to SoSoValue data. Despite consecutive days of total net inflows, trading volume on the ETFs remains lower than its peak level in March.
