US Spot Bitcoin ETFs Mark Sixth Consecutive Day of Net Inflows

🚀 Stay Ahead with AltcoinDaily.co! 🌐

The rising popularity of Spot Bitcoin ETF in the United States is evident as spot Bitcoin ETFs mark their sixth consecutive day of net inflows, totaling an impressive $241.12 million.

Total Net Inflows now Exceed $12 billion

According to SoSoValue data, Ark Invest and 21Shares spot bitcoin ETF brought in $68 million, the largest net inflow amongst others. BlackRock IBIT added net inflow totaling $64 million, while Bitwise spot bitcoin ETF has $28 million in net inflows. Also, the spot bitcoin ETF from Grayscale, which recently experienced the highest net outflows, attracted $9 million in net inflows. WisdomTree’s spot Bitcoin ETF added $5 million worth of net inflows.

The 11 Bitcoin ETFs collectively received more than $1.18 billion in net inflows over the past six days. This increased the total net inflows since January to $12.87 billion. However, the overall flows for these 11 ETFs are still notably lower than their peak in March. Furthermore, the consecutive days of inflows highlight a sustained trend rather than a fleeting interest in Bitcoin ETFs.

  🌟 Unlock Crypto Insights with AltcoinDaily.co! 💰

Spot BTC ETFs See Three Days Consistent Inflows

Recall that, spot Bitcoin ETFs marked their third consecutive day of net inflows, totaling an impressive $31.64 million in April. According to data, BlackRock’s spot Bitcoin ETF brought in $37.92 million, the largest amongst others. Ark Invest brought in $33.28 million, while Bitwise has $23.23 million in net inflows. Notably, this significant influx of funds brought the total spot BTC ETFs net inflow to $12.42 billion, with a total net assets of $55.82 billion.

Meanwhile, this report came months after the US Spot bitcoin ETF industry recorded six straight days of net positive inflows totaling nearly $715 million. However, BlackRock and Fidelity’s offerings had the highest inflows.

Additionally, the six straight days of inflows come after four days of outflows from the spot Bitcoin ETFs between January 22 and 25, when GBTC outflows peaked. Grayscale recorded its second-lowest outflow day on February 2 at $144.6 million.

 🦂 AltcoinDaily.co is your trusted source for the latest in crypto news and insights. 🚀

Investors’ Interest in Spot BTC ETFs has Increased

The rapid growth of assets under management by ETFs highlights the increasing institutional interest in BTC as a legitimate asset class. Institutions, previously hesitant due to regulatory uncertainties and custodial concerns, are now embracing Bitcoin ETFs as a regulated and secure means to diversify their portfolios and hedge against inflationary pressures.

Meanwhile, the proliferation of ETFs has democratized BTC investment, allowing retail investors to participate in the crypto market without specialized knowledge or technical expertise. This democratization fosters financial inclusion and augments the liquidity and stability of the BTC market.

 🔍 Your Crypto News Hub: AltcoinDaily.co! 🌐