Friday’s trading session for spot bitcoin exchange-traded funds (ETFs) saw approximately $50 million in inflows, contributing to a total trade volume of around $1.73 billion. Notably, Grayscale’s GBTC and Vaneck’s HODL experienced outflows, although HODL’s were much smaller than GBTC’s. Among the 11 funds, Blackrock’s Bitcoin Trust (IBIT) emerged as the leader in inflows, capturing the majority of the funds.
With GBTC’s continued reductions, the trust now holds 286,957.14 BTC. Since Wednesday’s update, GBTC has divested a total of 485.89 BTC. On the other hand, IBIT’s total BTC holdings increased to 289,058.01 BTC after the latest inflows on Thursday and Friday, which amounted to $48 million. Fidelity’s FBTC also experienced an increase in holdings, from 162,303.38 BTC to 164,030.47 BTC.
This week, ARKB, managed by Ark Invest and 21shares, saw some divestment, currently holding 47,175 BTC compared to 48,624 BTC on Wednesday. Bitwise’s BITB fund also saw a slight increase in holdings, from 36,397.69 BTC to 36,770.61 BTC as of June 1, 2024. When combined, these five major BTC funds possess a total of 823,991.23 BTC valued at $55.82 billion.
The remaining funds experienced neutral activity with no significant inflows or outflows, except for Vaneck’s HODL, which saw a slight divestment during Friday’s trading session.
What are your thoughts on the recent inflows of spot bitcoin ETFs? Share your opinions in the comments section below.
