U.S. spot bitcoin exchange-traded funds (ETFs) experienced another successful day on Wednesday, with inflows totaling $488.1 million. This marked the 17th consecutive day of positive contributions from the 11 publicly traded funds.
The leading fund on Wednesday was Fidelity's FBTC, which recorded $221 million in inflows. As of June 6, 2024, FBTC holds 173,715.33 BTC, valued at approximately $12.37 billion. Blackrock's IBIT also attracted significant inflows, bringing its total BTC holdings close to 300,000. At present, IBIT commands 297,643.72 BTC, worth $21.20 billion.
Following FBTC, inflows were seen in ARKB, BITB, GBTC, HODL, and BTCO. The funds BRRR, EZBC, and BTCW experienced neutral flows. ARKB, managed by Ark Invest and 21Shares, has surpassed the 50,000 BTC mark, currently holding about 50,303 BTC. The bitcoin reserve of ARKB is valued at $358 billion based on current exchange rates.
Bitwise's BITB fund now holds 38,106.02 BTC, worth $2.71 billion. GBTC received an inflow of $15 million, bringing the total BTC holdings of the Grayscale fund to approximately 285,458.14 BTC, valued at $20.36 billion.
During Wednesday's trading sessions, the ETFs recorded a trade volume of $2.08 billion. The consistent strong inflows into U.S. spot bitcoin ETFs reflect growing confidence among investors and indicate a potentially transformative era for cryptocurrency investments. With FBTC and other funds consistently attracting significant capital, there may be a shift towards a more retail-focused adoption of bitcoin.
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