Spot Bitcoin exchange-traded funds (ETFs) in the United States experienced a notable surge in daily net inflows, reaching $302.97 million on Wednesday, the highest level since May 3.
Fidelity’s FBTC led the charge, attracting a remarkable $131 million in inflows daily, as reported by data from SoSoValue. Bitwise’s fund followed closely behind with $86 million in inflows, while Ark Invest and 21Shares’ ARKB generated $39 million in net inflows.
Other ETFs, including those managed by Valkyrie, VanEck, Franklin Templeton, WisdomTree, and Invesco/Galaxy Digital, reported modest single-digit net inflows. Even Grayscale’s GBTC, the largest spot Bitcoin fund by net asset value, saw its third net inflow on Wednesday, bringing in $27 million. However, BlackRock, the second-largest fund, recorded no flows.
Rachael Lucas, a crypto analyst at BTC Markets, commented, “The significant inflows indicate that investment advisors and hedge fund managers view BTC ETFs as a unique hedge, offering diversification benefits that traditional asset classes cannot match.”
As of Wednesday, a total of 11 spot Bitcoin ETFs in the U.S. had accumulated net inflows of $12.15 billion. Nonetheless, trading volume for these ETFs has steadily declined since reaching its peak in March.
