After breaking a five-day streak of consecutive net outflows on Friday — when the foremost cryptocurrency’s block rewards officially halved — spot bitcoin exchange-traded funds in the United States recorded another day of net inflows on Monday.
The total net inflow for spot Bitcoin ETFs yesterday was just over $62 million, with the Fidelity Wise Origin Bitcoin Fund garnering the most significant single-day net inflow at $34.83 million, according to data from SoSoValue.
At the same time, the ARK 21Shares Bitcoin ETF brought in more than $22.5 million in net inflows, and The iShares Bitcoin Trust brought in the third-largest net inflow yesterday with $19.65 million.
The Grayscale Bitcoin Trust expectedly saw the largest single-day net outflow — which has often overpowered all other ETFs’ net inflows. Nearly $35 million in net outflows left the product yesterday.
Since their listings, U.S.-traded spot bitcoin ETFs have brought in a cumulative total net inflow of $12.38 billion. Meanwhile, cumulative spot bitcoin ETF volumes topped $226 billion at last week’s close, according to The Block’s data.
In related news, BlackRock’s IBIT added inflows for the 70th straight day on Monday — putting the exchange-traded fund among the top 10 ETFs with the longest streak of daily inflows.
IBIT’s market share among spot bitcoin ETFs reached nearly 54% last week, per The Block’s data.
The price of bitcoin — the underlying asset for spot bitcoin ETFs — is currently just above $66,200, according to The Block’s Bitcoin Price Page.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.