U.S. spot bitcoin exchange-traded funds (ETFs) have continued their streak this week, with four consecutive days of inflows totaling $257.3 million. Grayscale’s Bitcoin Trust (GBTC) also experienced its fourth day of inflows, gaining $4.6 million during the trading sessions.
On the other hand, Hong Kong’s spot BTC ETFs faced outflows on Thursday. The U.S. ETFs attracted the majority of the inflows, with Blackrock’s IBIT securing $94 million, marking the first inflows for the fund in several sessions. The total holdings of IBIT now amount to 276,190.03 BTC, valued at approximately $18 billion as of May 16.
Additionally, Ark Invest’s ARKB fund received just over $60 million, while GBTC recorded $4.6 million in inflows. Fidelity’s FBTC saw inflows nearing $70 million on Thursday. As of May 17, ARKB holds 47,230 BTC, and FBTC holds 156,772.30 BTC, valued at roughly $10.23 billion and $3 billion, respectively.
The increase in IBIT’s holdings brings it closer to the size of GBTC. GBTC’s latest inflows have raised its reserves from 288,497.65 BTC to 288,895.06 BTC, worth $18.82 billion. If Blackrock’s IBIT surpasses GBTC in reserves, it would break Grayscale’s record as the largest exchange-traded product (ETP) in bitcoin reserves, a position GBTC has held since its inception in 2013.
What are your thoughts on the inflows obtained by U.S. spot bitcoin ETFs on Thursday? Do you anticipate this trend to continue? Share your opinions in the comments section below.
