- Net inflows of $533.57 million were recorded by ten U.S spot bitcoin ETFs yesterday.
- The HODL fund managed by VanEck had a net withdrawal of $38.37 million.
Monday saw the biggest net inflow of $526.7 million for BlackRock’s IBIT, the biggest spot bitcoin exchange-traded fund by net asset value, since March 13.
Net inflows of $533.57 million were recorded by ten U.S spot bitcoin ETFs yesterday, with the exception of Bitwise’s BITB, as reported by SoSoValue. Following the influx from IBIT, $23.72 million came from Fidelity’s FBTC. The bitcoin fund run by Franklin Templeton received $7.87 million. While the one run by Invesco and Galaxy Digital, BTCO, received $13.65 million.
The HODL fund managed by VanEck had a net withdrawal of $38.37 million. The remaining funds, such as GBTC and Ark Invest from Grayscale and ARKB from 21Shares, both had no trading activity for the day.
Since their approval in January of this year, spot bitcoin ETFs have amassed net inflows of $17.59 billion. And their market capitalization exceeds $62 billion. At the time of writing, Bitcoin is trading at $66,963, down 0.46% in the last 24 hours as per data from CMC.
All Eyes on Spot Ether ETF
Issuers’ registration applications for spot Ethereum ETFs were authorized by the U.S. Securities and Exchange Commission, marking the latest milestone in the cryptocurrency industry. The funds are slated to go live on Tuesday afternoon.
Senior Bloomberg ETF analyst Eric Balchunas in May, said that Ethereum ETFs might draw 10–15% of the assets obtained by spot bitcoin ETFs. Citigroup predicted that in the first half of the year, the funds will gather between $4.7 billion and $5.4 billion.
More exchange-traded funds (ETFs) based on other cryptocurrencies, like Solana, may also be possible after the approval.
Highlighted Crypto News Today:
