Bitcoin spot ETFs experienced a significant influx of $886.75 million on June 4, making it the second-highest netflow in history. The surge was primarily driven by Fidelity, with an inflow of $379 million, and BlackRock, with an inflow of $274 million.
Data from sosovalue reveals that several high-performing Bitcoin spot ETFs contributed to this capital flow. The Fidelity Wise Origin Bitcoin Fund (FBTC) led the way, attracting a substantial $379 million. FBTC reported a slight premium/discount of +0.14% and holds a net asset value (NAV) of $12.01 billion.
BlackRock’s iShares Bitcoin Trust (IBIT) recorded an inflow of $274 million, while the Grayscale Bitcoin Trust (GBTC) saw an inflow of $28.20 million. This marked GBTC’s first net inflow since May 20, as it had been witnessing outflows and zero flows, including a significant outflow of $134 million on May 31.
Other notable ETFs include the Ark 21Shares Bitcoin ETF (ARKB) and the Bitwise Bitcoin ETF (BITB). ARKB saw an inflow of $139 million, while BITB attracted $61 million. There were negligible capital inflows for other Bitcoin spot ETFs, and no product recorded an outflow, which hasn’t happened since May 24.
As of June 4, the cumulative net assets of all Bitcoin spot ETFs reached $61.46 billion, marking a 4.43% increase. The total value traded amounted to $2.78 billion, indicating active participation and confidence in the market.
The market prices of the top ETFs reflected positive daily changes due to Bitcoin’s recent recovery, surpassing $70,000. GBTC closed at $62.62 with a daily change of +1.80%, IBIT had a market price of $40.17 with a daily change of +1.85%, and FBTC was priced at $61.67, also showing a daily change of +1.85%.
Within the crypto community, discussions revolve around which cryptocurrency will be the next to secure an ETF spot, following the U.S. SEC’s approval of Ethereum-based ETFs. A recent survey revealed that 63% of participants believe XRP is the most likely candidate, followed by 25.9% supporting Solana, and 11.1% voting for other cryptocurrencies.
It’s worth noting that on May 29, BlackRock’s IBIT briefly surpassed Grayscale’s GBTC as the largest Bitcoin ETF, as highlighted by Arkham Intelligence.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. The views expressed in this article are solely the author’s opinions and do not reflect the opinion of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not liable for any financial losses incurred.