Key Points
- Spot Bitcoin ETFs in the US experienced nearly $66 million in total net inflows recently.
- The Fidelity Wise Origin Bitcoin Fund was the most popular, with $39 million in one-day net inflows.
The total net inflow of spot Bitcoin exchange-traded funds (ETFs) in the US recently reached close to $66 million. This brings the cumulative total net inflow since their introduction to nearly $11.75 billion.
Leading Bitcoin ETFs
The Fidelity Wise Origin Bitcoin Fund was the leading spot Bitcoin ETF. In just a single day, it attracted net inflows of $39 million, according to data from SoSo Value.
The Bitwise Bitcoin ETF (BITB) and VanEck Bitcoin Trust ETF (HODL) also saw significant inflows, bringing in $20 million and $7 million respectively.
No other spot Bitcoin ETFs, including the converted Bitcoin Trust by Grayscale (GBTC), which has witnessed approximately $18 billion in cumulative net outflows, recorded net flows in either direction.
Trends in Bitcoin ETFs
Despite the recent surge in spot Bitcoin ETF volumes, which reached their highest level since the beginning of the month, the overall trend points towards a decline. Daily assets under management of spot Bitcoin ETFs have seen a slight but steady decrease since early April, reflecting more outflows in recent weeks.
In Hong Kong, the special administrative region’s Bitcoin ETFs reportedly experienced net outflows of 535 BTC recently. According to Vetle Lunde, a senior analyst at K33 Research, this has brought the region’s aggregated Bitcoins under management back below its seed BUM.
