Cryptocurrency News

US spot Bitcoin ETFs managed to rake in $887M in net flow

US spot Bitcoin exchange-traded funds witnessed an exponential increase in net inflow, raking in $887M. This is the second time the net inflow figures have reached these heights, with the previous one, on March 12th, collecting $1.05 billion.

This stupendous rise is being attributed to Fidelity’s FBTC, which contributed $379 million, along with BlackRock and its IBIT, which contributed $274 million. The collective net inflow has presently reached $14.85 billion.

The net inflows regarding Ark Invest and 21Shares’ ARKB totaled $139 million, with BITB’s estimates of $61 million. Grayscale’s GBTC was $28 million. However, VanEck and Valkyrie’s ETFs failed to reach the double-digit figure. 

All eleven spot Bitcoin ETFs recorded their sixteenth day pertaining to net inflows, just a day under the results from January to the middle of the next month. 

If one considers the figures from the start, the net inflows are now standing at a collective figure of $14.57 billion. In the meantime, in the case of the US spot Bitcoin ETFs, they were less than the figure witnessed in March. 

Bitcoin’s value reached over $71,000, if only for a short while, before finally settling at $70,800. 

Elsewhere, the US is anticipating the introduction of spot Ethereum ETFs since prime suppliers have forwarded the altered listing versions to the Securities and Exchange Commission. As per the analysts with K33 Research, spot ether funds might rope in between $3.1 billion and $4.8 billion in net inflows over the upcoming five-month period.

Erica Lee

Erica is a finance professional who has over a decade of experience in the finance sector as a management consultant. After years of reporting on forex, stock markets, and finance, she now contributes her strong financial skills with the CoinNewsSpan team. Since 2014, she has been deeply involved in the blockchain and cryptocurrency space. She believes that blockchain technology has tremendous potential to make our lives better.

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