On Wednesday, U.S. spot bitcoin exchange-traded funds (ETFs) continued their streak of positive gains, collecting $28.3 million in inflows. This marks the 12th consecutive day of positive inflows for U.S. bitcoin ETFs.
Blackrock's IBIT and Fidelity's FBTC Drive $28M Inflows for US Bitcoin ETFs
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Blackrock’s IBIT Tops Inflows as U.S. Bitcoin ETFs Maintain Positive Streak
Blackrock’s Ishares bitcoin trust (IBIT) led on May 29, with $24.5 million in gains, followed by Fidelity’s FBTC, which accrued approximately $18 million. Altogether, the funds recorded around $1.14 billion in trade volume during Wednesday’s sessions. According to official websites, Blackrock’s IBIT holdings update shows the ETF now secures 289,035.25 BTC valued at $19.48 billion.
Grayscale’s bitcoin trust (GBTC) experienced outflows of around $31 million on Wednesday. The May 29, 2024, update indicates that the fund holds 287,443.03 BTC worth $19.31 billion. After the inflows on Wednesday, Fidelity’s FBTC holds 162,303.38 BTC valued at $10.93 billion. Ark Invest and 21shares ARKB fund saw inflows as well, and the ETF currently secures 48,624 BTC valued at $3.27 billion.
Bitwise’s BITB also experienced a modest increase, now holding 36,397.69 BTC valued at $2.45 billion. Among the top five spot bitcoin ETFs, the group commands a substantial cache of 823,803.35 BTC valued at over $56 billion. Combined, the top five hold 4.18% of the current circulating supply of 19,705,389.87 BTC. Of this 4.18%, Blackrock’s IBIT controls 1.46% of BTC’s current supply, while GBTC holds 1.45% of today’s circulating bitcoins.
What do you think about the latest spot bitcoin ETF inflows? Share your thoughts and opinions about this subject in the comments section below.
