The U.S.-based spot Bitcoin exchange-traded funds (ETFs) recorded their second-best inflow day ever on June 4, 2024, with $886.6 million added. Leading the inflows were the Fidelity Wise Origin Bitcoin Fund (FBTC) at $378.7 million and Blackrock’s Bitcoin ETF (IBIT) at $274.4 million.
The Grayscale Bitcoin Trust (GBTC) saw a rare inflow day, adding $28.2 million, marking its seventh inflow since converting to a spot ETF in January. Despite its high management fee, GBTC still attracted investors. Other Bitcoin ETFs from Invesco Galaxy, Franklin Templeton, WisdomTree, and Hashdex saw no inflows on June 4.
This significant inflow reflects a strong investor interest, with total net inflows for Bitcoin ETFs reaching nearly $1 billion, the highest since March 12. ETF Store president Nate Geraci and Bloomberg analyst Eric Balchunas noted the robust demand, contradicting critics who predicted minimal interest.
Over the past month, Bitcoin ETFs have attracted approximately $2.4 billion, showcasing their resilience and growing appeal. This trend highlights the strategic importance of Bitcoin ETFs in the financial market, demonstrating their staying power and investor confidence.
