Spot Bitcoin ETFs Report Modest Inflows
The list of spot bitcoin exchange-traded funds (ETFs) expanded on Wednesday, increasing from 11 to 12 with the launch of Grayscale’s Mini Bitcoin Trust. The trading day saw these funds attract a modest $298,930 in net inflows.
During Tuesday's trading session, only two spot bitcoin ETFs saw inflows. Blackrock's IBIT led with $20.99 million, while Grayscale's new Mini Bitcoin Trust, labeled "BTC," recorded $18 million in positive flows. In contrast, three other funds experienced outflows, with Fidelity's FBTC losing $31.57 million. Ark Invest's and 21shares' ARKB fund saw a decrease of $4.61 million, and Bitwise's BITB fund dropped $2.51 million, according to data from sosovalue.xyz.
The funds GBTC, HODL, BRRR, BTCO, EZBC, BTCW, and DEFI had a neutral day, showing no gains or losses. Since Jan. 11, 2024, these U.S.-based ETFs have accumulated $17.69 billion in total net inflows. Yesterday's session recorded a trading volume of $1.37 billion. The bitcoin reserves held by the 12 funds are valued at $60.12 billion, representing 4.72% of bitcoin's market capitalization.
The increase in the number of spot bitcoin ETFs, along with fluctuating inflows and outflows, reflects the dynamic and evolving nature of bitcoin's current market. As funds continue to attract and divest assets, market participants are closely monitoring how these instruments will shape the broader financial landscape and impact bitcoin's long-term adoption and integration within traditional finance.
What are your thoughts on the spot bitcoin ETF activity on Wednesday? Share your opinions in the comments below.
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