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.
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.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
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