US Spot Bitcoin ExchangeExchange-traded funds saw their second-largest single-day inflow on Tuesday, hitting more than $886 million, the largest single-day inflow since March.
New Arrivals: 🇺🇸 #Bitcoin Inflows into ETFs yesterday reached $886 million, the 16th consecutive day of inflows.
I’m back🙌 pic.twitter.com/Er2KDgXr9E
— Bitcoin Magazine (@BitcoinMagazine) June 5, 2024
The ETF has seen inflows for 16 consecutive days, sparking rumors of a “second wave” of demand. Fidelity Wise Origin Bitcoin Fund led the way with inflows of $378.7 million, followed by BlackRock’s iShares Bitcoin Trust with $274.4 million.
In total, Spot Bitcoin ETF It holds $60 billion worth of BTC. Analysts cite renewed interest from institutional investors and Bitcoin’s price recovery above $70,000 as the drivers of the latest wave of inflows.
This marks the largest single-day inflow for the fund since a record $1.04 billion was inflowed on March 12. The following day, Bitcoin hit an all-time high of $73,679, showing the potential impact of the inflows.
of Grayscale Bitcoin Trust It also recorded a rare day of inflows of $28.2 million, its seventh day since converting to a spot ETF in January, joining a new frenzy despite outflows for much of the year.
The infrastructure for institutional bitcoin investing continues to mature, with major firms such as Fidelity and BlackRock now having bitcoin ETFs with tens of billions of dollars in assets.
The latest wave of inflows Australia, Englandand Thai’s Recent Approval and Listing of Bitcoin Regulated Fund. As the regulatory environment warms around the world, Bitcoin ETFs are attracting capital again.
