U.S. spot bitcoin exchange-traded funds (ETFs) have witnessed a consecutive two days of positive inflows, as per recent statistics. On Friday, these ETFs recorded around $378.3 million in inflows, followed by an additional $217 million on Monday. This brings the total inflows over the two days to approximately $595.3 million. Even Grayscale’s Bitcoin Trust (GBTC) experienced a reversal of its fortune, with two consecutive days of inflows after 77 days of outflows starting from January 11, 2024. As of May 6, 2024, GBTC holds about 292,217.67 BTC valued at around $18.46 billion. The trust received $63 million in inflows, along with an additional $4 million from Monday’s activities. The U.S. ETFs collectively achieved a trading volume of $1.81 billion. Among them, Fidelity’s FBTC fund led the way on Monday with $99 million in positive inflows, followed by Ark Invest’s ARKB with about $76 million, and Blackrock’s IBIT securing $22 million. Except for Valkyrie’s BRRR, all the U.S. spot bitcoin ETFs experienced inflows on May 6th. What are your thoughts on the recent positive inflows from these U.S. spot bitcoin ETFs? Feel free to share your opinions and comments below.
