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US Spot Bitcoin ETFs Maintain Momentum With Sixth Day of Positive Gains

source-logo  news.bitcoin.com 21 May 2024 15:42, UTC

According to the latest data, U.S. spot bitcoin exchange-traded funds (ETFs) have experienced positive inflows for six consecutive days. Over this period, the spot bitcoin ETFs attracted a total of $1.186 billion.

Ark Invest’s ARKB Tops Inflows as U.S. Bitcoin ETFs Gain $237 Million

Spot bitcoin ETFs in the U.S. continued their streak of positive gains, recording $237.20 million on Monday, marking the sixth consecutive day of inflows. Ark Invest’s ARKB fund led the way on Monday, seeing nearly $68 million in new investments. ARKB now holds 48,364 BTC, valued at approximately $3.44 billion based on Tuesday’s bitcoin exchange rates. Blackrock’s IBIT closely followed with $66 million in inflows, bringing the fund’s total reserves to 276,759.43 BTC, worth $19.72 billion.

IBIT dominated Monday’s trading volume with $1.29 billion out of the $2.48 billion recorded across the entire group. Fidelity’s FBTC fund attracted the third-highest inflows on Monday with $64 million, followed by Bitwise’s BITB, which accrued $28 million. FBTC now commands 158,258.91 BTC, valued at $11.27 billion based on current BTC exchange rates. BITB holds 36,152.40 BTC in its trust, worth $2.57 billion as of Tuesday.

Grayscale’s Bitcoin Trust (GBTC) reported $9 million in positive inflows on Monday. At the time of writing, 7 a.m. Eastern Time on Tuesday, GBTC holds 289,390.34 BTC in reserves, valued at an estimated $20.62 billion. Since Jan. 12, 2024, GBTC has divested 327,689.65 BTC, valued at approximately $23.35 billion. Alongside the performance of U.S. spot BTC ETFs, Hong Kong’s spot bitcoin ETFs saw inflows of 99.9 BTC ($7.11M) on Monday.

What do you think about the U.S. spot bitcoin ETF inflows? Share your thoughts and opinions about this subject in the comments section below.