2024

Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

<p class="is-style-lead">The U.S.-based spot <a href="https://crypto.news/tag/bitcoin-etf/" rel="noopener noreferrer nofollow">Bitcoin exchange-traded funds</a> (ETFs) have experienced their second-best-ever joint net inflow day, with preliminary data indicating an inflow of $886.6 million.</p>
<p>According to data from Farside Investors, the Fidelity Wise Origin Bitcoin Fund (FBTC) led with an inflow of $378.7 million, followed by Blackrock’s Bitcoin ETF (IBIT) with $274.4 million.</p>
<p>ARK 21Shares Bitcoin ETF (ARKB) was the third-best performer, bringing in $138.7 million in net inflows.</p>
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   <p lang="en" dir="ltr">Bitcoin ETF Flow (US$ million) – 2024-06-04<br><br>TOTAL NET FLOW: 886.6<br>(Provisional data)<br><br>IBIT: 274.4<br>FBTC: 378.7<br>BITB: 61<br>ARKB: 138.7<br>BTCO: 0<br>EZBC: 0<br>BRRR: 1.6<br>HODL: 4<br>BTCW: 0<br>GBTC: 28.2<br>DEFI: 0<br><br>For all the data &amp; disclaimers visit:<a href="https://t.co/4ISlrCgZdk" target="_blank" rel="noopener noreferrer nofollow">https://t.co/4ISlrCgZdk</a></p>— Farside Investors (@FarsideUK) <a href="https://twitter.com/FarsideUK/status/1798200115598934065?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 5, 2024</a>
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<p>Farside data further indicated that the Grayscale Bitcoin Trust (GBTC) experienced a rare inflow day, netting $28.2 million. It marks the seventh inflow day for GBTC since its conversion from a closed-end fund to a spot ETF in January.</p>
<p>GBTC has faced over $17.8 billion in <a href="https://crypto.news/grayscales-gbtc-sees-33-reduction-in-bitcoin-holdings-amid-9-26b-outflows/" rel="noopener noreferrer nofollow">net outflows</a>, which is attributed to its high management fee of 1.5% compared with 0.25% for the BlackRock fund and even lower, including fee waivers, at rivals.</p>
<p>The Bitcoin ETFs from Invesco Galaxy, Franklin Templeton, WisdomTree, and Hashdex did not see any demand, with each issuer recording no flows for June 4.</p>
<p>Overall, for the ten Bitcoin ETF issuers, Tuesday, June 4, marked the highest net inflow to these funds since March 12, when they recorded over <a href="https://crypto.news/bitcoin-etfs-acquire-more-than-mining-supplies-amid-record-1-05b-inflow/" rel="noopener noreferrer nofollow">$1.05 billion</a> in total net inflows.</p>
<p>ETF Store president Nate Geraci <a href="https://x.com/NateGeraci/status/1798153844947587194" target="_blank" rel="noopener noreferrer nofollow">responded </a>to Bitcoin critics on X, addressing claims that the Bitcoin ETFs would see minimal demand.</p>
<p>“I was told several months ago that all of the ‘degen retail’ investors who wanted to buy had already done so [and] there was nobody left,” Geraci wrote. “How can this be?”</p>
<p>Meanwhile, Bloomberg ETF analyst Eric Balchunas also took to X to note that it was “big-time flows all around today for The Ten” — referring to the Bitcoin ETFs excluding Hashdex’s.</p>
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   <p lang="en" dir="ltr">Fidelity not messing around, big-time flows all around today for The Ten, nearly $1b in total. Second best day ever, since Mid-March. $3.3b in past 4wks, net YTD at $15b (which was top end of our 12mo est). The 'third wave' is turning into tidal wave. <a href="https://t.co/S9yeSHaNbV" target="_blank" rel="noopener noreferrer nofollow">https://t.co/S9yeSHaNbV</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1798156058487382232?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 5, 2024</a>
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<p>You might also like: <a href="https://crypto.news/bitcoin-etfs-see-45m-in-inflows/" rel="noopener noreferrer nofollow"> Bitcoin ETFs see $45m in inflows </a></p>
<p>Hashdex’s Bitcoin ETF (DEFI) entered the market months after the other issuers and has struggled to attract inflows.</p>
<p>Earlier, on May 3, the U.S.-based spot Bitcoin ETFs marked 15 consecutive sessions of net inflows. The surge, combined with a rally in Bitcoin’s price, helped BlackRock’s iShares Bitcoin Fund (IBIT) surpass $20 billion in assets under management for the first time.</p>
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   <p lang="en" dir="ltr">Remember, It took the best ETF 3 years to reach $20 billion.<a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> ETF did it in 137 days 🤯 <a href="https://t.co/P7Or0GFMuU" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/P7Or0GFMuU</a></p>— Vivek⚡️ (@Vivek4real_) <a href="https://twitter.com/Vivek4real_/status/1797641670760276177?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 3, 2024</a>
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<p><a href="https://x.com/EricBalchunas/status/1797967925925777661" target="_blank" rel="noopener noreferrer nofollow">According </a>to Balchunas, the ETFs attracted approximately $2.4 billion in new money over the past month. That would be the third-largest net inflow across the entire ETF market.</p>
<p>“The ability to bounce back with renewed interest after a couple of nasty selloffs is rare for hot sauce-type strategies,” Balchunas said on X. “[It] shows staying power.”</p>
<p>Following the initial excitement over the launch of spot ETFs, inflows slowed significantly in April and even turned negative for several days, a phenomenon experts said was quite normal.</p>
<p>Read more: <a href="https://crypto.news/australias-first-spot-bitcoin-etf-to-go-live-on-tuesday/" rel="noopener noreferrer nofollow"> Australia’s first spot Bitcoin ETF to go live on Tuesday </a></p>

Bitcoin ETFs record second-best inflow day since March, $886.6m added

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