Spot Bitcoin exchange-traded funds (ETFs) are gaining momentum, with data from crypto research platform SoSo Value revealing that these ETFs experienced their second-largest inflow ever on June 4th, totaling $886.7 million. The highest daily inflow was recorded on March 12th, reaching $1.05 billion. As of June 4th, these ETFs have accumulated a total net inflow of $14.85 billion, showing continuous positive inflows since May 13th. Leading the pack is BlackRock’s iShares Bitcoin Trust (IBIT) with an inflow of $17 billion, followed by Fidelity Wise Origin Bitcoin Fund (FBTC) with $9 billion. ARK 21Shares Bitcoin ETF (ARKB) comes in third with $3 billion, while Bitwise Bitcoin ETF (BITB) and Invesco Galaxy Bitcoin ETF (BTCO) follow with $2 billion and $317 million, respectively.
Since receiving approval from the U.S. Securities and Exchange Commission (SEC) in January, spot Bitcoin ETFs have been attracting significant investor interest. Recent data from Bitcoin brokerage firm River indicates that 12 of the 25 largest US hedge funds now have a collective exposure of over $2.6 billion in Bitcoin ETFs. Additionally, eleven of the 25 Registered Investment Advisors (RIAs) have also invested in this product. According to crypto intelligence platform K33 Research, the number of professional firms investing in Bitcoin ETFs in the first quarter of the year surpassed the number of firms investing in gold ETFs during the same period.
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