Bitcoin Spot ETFs Witness Massive $887 Million Inflow, Second Highest in History

On June 4, Bitcoin spot exchange-traded funds (ETFs) in the United States saw their second-largest single-day inflow ever, pulling in an impressive $886.75 million. This significant surge underscores the growing interest and confidence in Bitcoin ETFs among investors.

Record-Breaking Inflows Highlight Investor Confidence

The largest single-day inflow for Bitcoin spot ETFs occurred on March 12, when these funds attracted $1.05 billion. The recent inflow on June 4 marks the second-highest, reflecting robust investor sentiment. Leading the charge, Fidelity’s FBTC garnered $379 million, followed by BlackRock’s IBIT with $274 million, as reported by SoSoValue.

All Funds Benefit from Increased Inflows

Other notable contributors included ARK Invest and 21Shares’ ARKB with $139 million and Bitwise’s BITB with $61 million in inflows. Grayscale’s GBTC also saw significant activity, bringing in $28 million. VanEck and Valkyrie’s ETFs, while seeing more modest inflows, also participated in the trend. This influx extended the streak of consecutive net inflows for the 11 spot Bitcoin ETFs to 16 days, nearing the record streak from January to mid-February.

Bitcoin Price Surge and Market Sentiment

Alongside these inflows, Bitcoin’s value briefly crossed $71,000 on Tuesday night, settling around $70,800 by publication time. Analysts from Bitfinex suggest that the market correction phase may be concluding, driven by long-term holders who had previously sold off their Bitcoin starting to accumulate again for the first time since December 2023.

Anticipation for Spot Ethereum ETFs

As Bitcoin ETFs gain traction, the U.S. market eagerly anticipates the launch of spot Ethereum ETFs. Major issuers have recently submitted amended registration statements to the Securities and Exchange Commission. Analysts at K33 Research project that spot Ether funds could attract net inflows between $3.1 billion and $4.8 billion within the first five months of trading.

Thailand Joins the Bitcoin ETF Movement

In a related development, Thailand’s One Asset Management (ONEAM) has launched the country’s first Bitcoin ETF, targeting institutional investors and high-net-worth individuals. The Thai SEC’s approval of the One Bitcoin ETF Fund of Funds marks a significant milestone in the country’s regulatory landscape for digital assets. This fund will invest in 11 major global Bitcoin funds to ensure ample liquidity and security. Meanwhile, another Thai firm, MFC Asset Management, is awaiting approval for its own Bitcoin ETF.

Also Read: Thailand Approves First Spot Bitcoin ETF for Ultra-High Net-Worth Individuals