Grayscale’s Mini Bitcoin Trust has expanded the list of spot bitcoin exchange-traded funds (ETFs) from 11 to 12, as reported on Wednesday. The introduction of this new fund resulted in a modest $298,930 in net inflows during the day’s trading session.
In terms of inflows on Tuesday, only two spot bitcoin ETFs saw positive results. Blackrock’s IBIT led with $20.99 million in inflows, while Grayscale’s Mini Bitcoin Trust, labeled “BTC,” recorded $18 million. On the other hand, three other funds experienced outflows. Fidelity’s FBTC lost $31.57 million, Ark Invest’s and 21shares’ ARKB fund dropped $4.61 million, and Bitwise’s BITB fund decreased by $2.51 million, according to data from sosovalue.xyz.
The remaining funds, GBTC, HODL, BRRR, BTCO, EZBC, BTCW, and DEFI, had a neutral day with no gains or losses. Since January 11, 2024, these U.S.-based ETFs have accumulated a total of $17.69 billion in net inflows. The trading volume for yesterday’s session reached $1.37 billion. The 12 funds currently hold bitcoin reserves valued at $60.12 billion, which represents 4.72% of bitcoin’s market capitalization.
The increase in the number of spot bitcoin ETFs, along with the varying inflows and outflows, reflects the dynamic and evolving nature of bitcoin’s current market. As these funds continue to attract and divest assets, market participants are closely observing how these instruments will shape the broader financial landscape and influence bitcoin’s long-term adoption and integration into traditional finance.
What are your thoughts on the spot bitcoin ETF activity on Wednesday? Feel free to share your opinions and thoughts on this matter in the comments section below.
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