- Spot Bitcoin (BTC) exchange-traded funds (ETFs) are gaining momentum.
- Research data indicates a significant surge in inflows, showing promising trends.
- “Spot Bitcoin ETFs recorded their second-largest inflow day on June 4,” reports Crypto Research.
Spot Bitcoin ETFs witness unprecedented growth, drawing massive inflows and continued investor interest.
Record Inflows Highlight Growth
Spot Bitcoin ETFs recently marked a notable milestone, with daily total net inflows reaching $886.7 million on June 4, as per data from Soso Value. This achievement ranks as the second-highest single-day inflow in the history of spot Bitcoin ETFs, with the highest being on March 12, totaling $1.05 billion.
Institutional Players Join the Fray
These ETFs have seen cumulative net inflows of $14.85 billion since their inception, continuously receiving positive inflows since May 13. Leading the pack is BlackRock’s iShares Bitcoin Trust (IBIT) with $17 billion, demonstrating strong institutional interest. This is followed by Fidelity Wise Origin Bitcoin Fund (FBTC) with $9 billion and ARK 21Shares Bitcoin ETF (ARKB) with $3 billion.
Market Impact and Investor Sentiment
The approval of spot Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC) in January has been a game changer. The wave of interest from institutional investors is evident, as data from River indicates that 12 of the top 25 US hedge funds have collectively invested over $2.6 billion in these ETFs. Additionally, 11 of the 25 Registered Investment Advisors (RIAs) are now part of this growing trend.
Surpassing Gold ETFs in Popularity
An intriguing insight from K33 Research reveals that Bitcoin ETFs have surpassed gold ETFs in terms of the number of professional firms investing in them during the initial quarter of 2023. This shift reflects a broader change in investment strategies, underscoring Bitcoin’s appeal as a digital asset.
Conclusion
The rise of spot Bitcoin ETFs is reshaping the investment landscape, attracting attention from major institutional players and outperforming traditional options like gold ETFs. This surge not only highlights the growing acceptance and legitimacy of Bitcoin as an investment asset but also sets the stage for future developments in the crypto industry.
