Bitcoin spot ETFs record 17 days of net inflows, matching longest streak

Place bitcoin ETF (exchange-traded funds) in the US have recorded daily net inflows for 17 consecutive days, matching the longest positive streak.

The 11 newly launched funds racked up $488.24 million in net inflows on June 5, just a day after they recorded their second-highest daily net inflows since their launch. All ETFs recorded net inflows or zero flows yesterday.

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Fidelity's FBTC leads the pack in inflows

Fidelity's FBTC recorded the largest net inflows on June 5 after raising $221 million, according to btc-spot”>ValueBear data. BlackRock's IBIT came in second with its inflows of $155 million.

Ark Invest and 21Shares' ARKB and Bitwise's BITB took the third and fourth positions, respectively. This was after $71 million entered ARKB's reserves and investors invested $19 million into BITB. Meanwhile, Invesco and Galaxy Digital's fund matched the $4 million inflows recorded by VanEck's fund on the same day.

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bitcoin ETF Tracker | 2024-06-05

Total daily net income +$488.24 million
Total traded value $2.09 billion
Total net assets $62.56 billion
ETF market value ratio 4.46%

Net inflows/outflows for each ETF
FBTC +$220.64M
IBIT +$155.43M
ARKB +$71.40M
BITB +$18.60M
GBTC… pic.twitter.com/cUwJ3aFmWU

– SoSo Value (@SoSoValueCrypto) twitter.com/SoSoValueCrypto/status/1798591549254857172?ref_src=twsrc%5Etfw”>June 6, 2024

All funds also recorded an uptick in trading activity, reaching a volume of $2.09 billion yesterday. Although this was less than the $2.78 billion of activity experienced the previous day, it is more than the $1.78 billion recorded on June 4.

More than 600 institutions have investments in spot bitcoin ETFs

13F filings with the US Securities and Exchange Commission (SEC) show that more than 600 companiesincluding Morgan Stanley, JP Morgan and UBS, have invested billions of dollars in spot bitcoin ETFs.

Millennium Management was the largest investor with $1.9 billion, most of it in BlackRock's IBIT.

Morgan Stanley also emerged as one of the largest investors. Meanwhile, filings from JPMorgan, Wells Fargo, UBS, BNP Paribas, and the Royal Bank of Canada revealed that they all had investments in spot btc ETFs.

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