US spot bitcoin ETFs post $12 million net inflows, continuing intake at slower pace
Quick Take
- The U.S. spot bitcoin ETFs reported a total daily net inflow of $11.8 million on Thursday.
- The only net outflows were seen from Grayscale’s GBTC, while five ETFs posted relatively small inflows.
The 11 spot bitcoin ETFs in the U.S. saw net inflows of $11.80 million on Thursday, extending the positive streak to three days. Despite continued inflows, the pace has slowed since Tuesday’s net inflows of $31 million.
Bitwise’s BITB led the pack of inflows yesterday by drawing in $8 million, followed by Fidelity’s FBTC that reported net inflows close to $7 million, according to data from SosoValue. Spot bitcoin ETF from Franklin Templeton saw net inflows of $3.6 million, its largest since mid-May.
Invesco and Galaxy Digital’s BTCO saw net inflows of $3 million, and Ark Invest and 21Shares’ ARKB had $1.84 million on Thursday.
The only net outflows were seen from Grayscale’s GBTC, worth $11.5 million. BlackRock’s IBIT, the largest spot bitcoin ETF in terms of net asset value, reported its fifth consecutive day of zero flows, despite having $520 million worth traded on Thursday.
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Remaining funds from VanEck, Valkyrie, WisdomTree and Hashdex also recorded zero flows for the day. VanEck took the crypto market by surprise by filing an application for a spot Solana ETF on Thursday, with the token price surging by around 10%.
The daily trade volume for the 11 bitcoin funds on Thursday was around $920 million, which is significantly lower than their March high of over $10 billion. The ETFs have accumulated a total net inflow of $14.45 billion since their January inception.
Meanwhile, the price of bitcoin inched up 1% in the past 24 hours to $61,677 at the time of publication, according to The Block’s bitcoin price page.
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