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Bitcoin Spot ETFs Attract $887 Million, Second Highest Single-Day Inflow in History

Bitcoin spot exchange-traded funds (ETFs) in the United States saw their second-largest daily influx of funds since their inception, attracting a noteworthy $886.75 million on June 4.

The highest daily net inflow for spot Bitcoin funds was recorded on March 12, totaling $1.05 billion.

Leading the surge in Tuesday’s substantial net inflows were Fidelity’s FBTC with $379 million and BlackRock’s IBIT with $274 million, as reported by data from SoSoValue.

The combined net inflows for spot bitcoin ETFs now stand at $14.85 billion.

All Funds See Inflows

ARK Invest and 21Shares’ ARKB saw inflows of $139 million, while Bitwise’s BITB recorded $61 million in inflows.

Grayscale’s GBTC attracted $28 million, marking its third-largest net inflow since conversion.

VanEck and Valkyrie’s ETFs also saw single-digit net inflows.

With Tuesday’s inflows, the 11 spot bitcoin ETFs extended their streak of consecutive net inflows to 16 days, trailing only one day behind the longest positive flow streak recorded from January to mid-February.

Since inception, spot Bitcoin ETFs have accumulated a total net inflow of $14.57 billion. However, the total volume of flows in U.S. spot Bitcoin ETFs remains lower than the peak observed in March.

Late Tuesday night, Bitcoin briefly surged past the $71,000 threshold, hovering around $70,800 at the time of reporting.

Analysts at Bitfinex suggest that this corrective phase appears to be nearing its conclusion.

The recent dip from all-time highs was notably influenced by long-term holders offloading their Bitcoin holdings.

However, blockchain data indicates a shift, with these holders beginning to accumulate Bitcoin again for the first time since December 2023.

Meanwhile, anticipation mounts in the United States for the debut of spot Ethereum ETFs, with major issuers recently submitting revised registration statements to the Securities and Exchange Commission.

Analysts at K33 Research project that spot Ether funds could draw net inflows ranging from $3.1 billion to $4.8 billion over the initial five months of trading.

Thailand Approves First Spot Bitcoin ETF

Thailand’s One Asset Management (ONEAM) has achieved a significant milestone by launching the country’s inaugural ETF providing exposure to cryptocurrencies.

Endorsed by the Thai Securities and Exchange Commission (SEC), ONEAM’s Bitcoin ETF represents a pivotal step in Thailand’s evolving regulatory landscape concerning digital assets.

Dubbed the One Bitcoin ETF Fund of Funds, the newly approved fund targets institutional investors and high-net-worth individuals exclusively.

This move brings Thailand in line with other jurisdictions, including the United States, Hong Kong, Australia, and the United Kingdom, which have already embraced Bitcoin ETFs.

ONEAM’s Bitcoin ETF will invest in 11 leading global Bitcoin funds, ensuring ample liquidity and security for investors.

While ONEAM has received regulatory green light, MFC Asset Management, another Thai firm, is still awaiting clearance for its own Bitcoin ETF offering.

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I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

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