- The consistent net inflows into spot bitcoin exchange-traded funds (ETFs) despite the recent challenges, such as Bitcoin’s block-reward halving, indicate a strong investor confidence in these investment vehicles.
- Despite market fluctuations, investors continue to allocate capital to spot bitcoin ETFs, suggesting a long-term bullish outlook on Bitcoin and the cryptocurrency market as a whole.
Amid the backdrop of Bitcoin’s block-reward halving, spot bitcoin exchange-traded funds (ETFs) in the United States have demonstrated resilience, rebounding from a recent streak of net outflows to record another day of net inflows on Monday.
According to data from SoSoValue, spot Bitcoin ETFs collectively experienced a total net inflow of over $62 million yesterday. The standout performer was the Fidelity Wise Origin Bitcoin Fund, which attracted a significant single-day net inflow of $34.83 million. Following closely behind was the ARK 21Shares Bitcoin ETF, bringing in over $22.5 million in net inflows, while The iShares Bitcoin Trust secured the third-largest net inflow with $19.65 million.
Despite this positive momentum, the Grayscale Bitcoin Trust witnessed the largest single-day net outflow, shedding nearly $35 million. Historically, the Grayscale Bitcoin Trust has often dominated net outflows, overshadowing the net inflows of other ETFs.
Since their debut on the U.S. market, spot bitcoin ETFs have collectively amassed a cumulative net inflow of $12.38 billion. Moreover, the cumulative volumes of spot bitcoin ETFs surpassed $226 billion by the end of last week, underscoring the growing significance of these investment vehicles in the cryptocurrency market.
In a related development, BlackRock’s IBIT continued to attract inflows for the 70th consecutive day on Monday, solidifying its position 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.
Spot Bitcoin ETFs Display Resilience Post-Halving
Despite the challenges posed by Bitcoin’s block-reward halving, spot bitcoin exchange-traded funds (ETFs) in the United States have showcased resilience, bouncing back from a recent period of net outflows to register another day of net inflows. This underscores investor confidence in these investment vehicles amidst market fluctuations, positioning them as key players in the cryptocurrency investment landscape.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
