Key Points
- Spot Bitcoin ETFs in the U.S. have continued to see net inflows, despite a challenging pre-halving week.
- Fidelity Wise Origin Bitcoin Fund, ARK 21Shares Bitcoin ETF, and iShares Bitcoin Trust recorded the highest single-day net inflows.
Spot exchange-traded funds (ETFs) for Bitcoin in the United States have maintained a steady inflow. This follows a tough week leading up to the halving of Bitcoin’s block rewards.
ETF Inflows
On Monday, these ETFs recorded another day of net inflows. The total net inflow for Bitcoin ETFs was slightly over $62 million. The most substantial single-day net inflow went to the Fidelity Wise Origin Bitcoin Fund, which received $34.83 million, as per SoSoValue data.
ARK 21Shares Bitcoin ETF and iShares Bitcoin Trust also saw significant net inflows. They recorded more than $22.5 million and $19.65 million, respectively.
Outflows and Cumulative Inflows
In contrast, the Grayscale Bitcoin Trust saw the day’s most significant net outflow. This outflow, nearing $35 million, surpassed the net inflows of all other ETFs.
Since their introduction, U.S. Bitcoin ETFs have seen a cumulative net inflow of $12.38 billion. Moreover, the cumulative volumes of these ETFs exceeded $226 billion at the end of last week.
In related developments, BlackRock’s IBIT recorded inflows for the 70th consecutive day on Monday. This streak places the ETF among the top 10 ETFs with the longest run of daily inflows.
IBIT’s market share among Bitcoin ETFs was close to 54% last week. The price of Bitcoin, the underlying asset for these ETFs, is currently just above $66,200.