Daily spot bitcoin ETF inflows top $100 million as ARKB overpowers GBTC
Spot bitcoin exchange-traded funds in the United States returned to a daily net inflow of over $100 million yesterday.Approximately $133 million flowed into ARKB as GBTC witnessed another $51 million flow out of the product.
According to data from SoSo Value, approximately $133 million flowed into ARKB, bringing its cumulative net inflow to $2 billion. Conversely, GBTC witnessed another $51 million flow out of the product, bringing its cumulative net outflows to $18 billion.
The Fidelity Wise Origin Bitcoin Fund, Invesco Galaxy Bitcoin ETF, VanEck Bitcoin Trust, Valkyrie Bitcoin Fund and Franklin Bitcoin ETF also all saw net inflows, while the rest — including BlackRock's iShares Bitcoin Trust — recorded no net inflows.
To date, roughly $11.84 billion in cumulative net inflows have entered the U.S.-listed spot bitcoin ETFs.
However, spot bitcoin ETF volumes have continually and steadily declined since peaking on March 5, as evidenced by The Block's Data Dashboard .
In related news, former Blackrock Bitcoin ETF lead Salim Ramji has joined Vanguard — which had historically taken an inactive approach to bitcoin ETFs — as its new CEO.
Additionally, the State of Wisconsin's Investment Board disclosed that it holds roughly $163 million in spot bitcoin ETFs.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
$100 Oil Prices Meet AI Computing Hardware Export Boom! Malaysian Ringgit Poised for Forex Comeback with "Dual Catalysts"
Some foreign exchange market strategists believe that, due to rising oil prices and the AI boom, the Malaysian ringgit may strengthen.
Gold tumbles to near $4,200 as hawkish Fed signals and stronger US Dollar pressure bullion
AI demand surges, but the financing "credit gate" is tightening! Under the heavy pressure of the 5% U.S. Treasury yield, compute power losers are gradually emerging
As U.S. Treasury yields rise to their highest levels since 2007, the overall financing cost for AI infrastructure construction is set to become significantly higher. JPMorgan predicts that by 2030, AI-related debt will reach $4.1 trillion.
From Saving Credit Suisse to Considering Cross-border Mergers: UBS (UBS.US) Faces a "Capital Siege", Is the Next Step Joining Forces with Wall Street?
As Switzerland's largest bank faces pressure from stricter capital requirements, several major international banks have approached UBS regarding potential mergers or other collaborations.
Crypto prices
More
