blockchainreporter.net
The top crypto asset Bitcoin has recently been witnessing a significant demand in line with its net inflows. As per SoSoValue, a famous on-chain data platform, the BTC spot ETFs have obtained up to $48.738 million worth in terms of net inflows on the 31st of May. The statistics platform pointed out that the respective data points toward a resilient demand in the Bitcoin market.
BTC Spot ETF Market Goes Through a 14-Day Inflow Streak
In line with the statistics, the market of BTC spot ETFs prolonged the net inflow spree for 14 consecutive days. The respective streak saw its conclusion on May 31. In addition to this, the statistics provider also disclosed the individual positions of the BTC ETFs. In this respect, it revealed that BlackRock ETF going by IBIT witnessed an inflow of nearly $169 million.
The respective figure indicates that the BlackRock ETF occupies a good position in comparison with Grayscale. According to the on-chain statistics provider, Grayscale Bitcoin Trust ETF experienced a substantial outflow of nearly $124 million. On the other hand, another prominent exchange-traded fund Fidelity saw some inflows.
BlackRock ETF Flips Grayscale ETF to Occupy the Top Rank Position among the BTC Funds
As SoSoValue puts it, Fidelity ETF went through an inflow of approximately $5.9047 million. While keeping in view the aforementioned data, it becomes clear that the IBIT ETF of BlackRock is spiking. The exchange-traded fund has reportedly flipped Grayscale ETF to turn into the top-ranked BTC fund.