Bitcoin ETF Inflows Exceed $100M: ARKB Beats GBTC

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May 15, 2024 - 18:06
Bitcoin ETF Inflows Exceed $100M: ARKB Beats GBTC
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Bitcoin exchange-traded funds (ETFs) in the United States experienced a resurgence in daily net inflows exceeding $100 million recently. The ARK 21 Shares Bitcoin ETF (ARKB) saw significant inflows, countering the usual outflows from the Grayscale Bitcoin Trust.

According to SoSo Value data, around $133 million entered ARKB, pushing its total net inflow to $2 billion. On the other hand, GBTC saw another $51 million exit the product, totaling net outflows of $18 billion.

Several other ETFs like the Fidelity Wise Origin Bitcoin Fund, Invesco Galaxy Bitcoin ETF, VanEck Bitcoin Trust, Valkyrie Bitcoin Fund, and Franklin Bitcoin ETF also experienced net inflows. However, others, including BlackRock's iShares Bitcoin Trust, had no net inflows.

U.S.-listed spot bitcoin ETFs have seen approximately $11.84 billion in cumulative net inflows. Despite this, their volumes have been steadily declining since their peak on March 5, as per The Block's Data Dashboard.