On Thursday, U.S. spot bitcoin exchange-traded funds (ETFs) marked their fourth day of inflows, accumulating $257.3 million. Grayscale’s Bitcoin Trust (GBTC) also experienced its fourth day of inflows, gaining $4.6 million during the trading sessions.
US Bitcoin ETFs See 4 Days of Inflows, Blackrock's IBIT Nears GBTC’s Reserve Levels
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Spread Between IBIT and GBTC Bitcoin Reserves Grows Thinner
U.S. spot bitcoin ETFs continued their streak this week with four consecutive days of inflows. In contrast, Hong Kong’s spot BTC ETFs faced outflows on Thursday. U.S. ETFs attracted $257.3 million in inflows, with Blackrock’s IBIT securing $94 million, the first inflows for the fund in several sessions. IBIT’s holdings now total 276,190.03 BTC, valued at approximately $18 billion as of May 16.
Ark Invest’s ARKB fund received just over $60 million, while GBTC recorded $4.6 million in inflows. Fidelity’s FBTC saw inflows nearing $70 million on Thursday. As of May 17, ARKB holds 47,230 BTC, and FBTC holds 156,772.30 BTC, valued at roughly $10.23 billion and $3 billion, respectively.
The increase in IBIT’s holdings brings it closer to GBTC’s size. GBTC’s latest inflows have raised its reserves from 288,497.65 BTC to 288,895.06 BTC, worth $18.82 billion. If Blackrock’s IBIT surpasses GBTC in reserves, it would break Grayscale’s record as the largest exchange-traded product (ETP) in bitcoin reserves, a position GBTC has held since its inception in 2013.
What do you think about the inflows the U.S. spot bitcoin ETFs obtained on Thursday? Do you expect the trend to continue? Share your thoughts and opinions about this subject in the comments section below.
