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Spot Bitcoin ETFs See Surge in Inflows: Fidelity’s FBTC Leads the Way

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.

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Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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