{"id":22025,"date":"2024-06-05T15:00:31","date_gmt":"2024-06-05T12:00:31","guid":{"rendered":"https:\/\/coinengineer.io\/?p=22025"},"modified":"2024-06-05T10:43:03","modified_gmt":"2024-06-05T07:43:03","slug":"us-bitcoin-etfs-see-second-best-net-inflow-day-with-886-6-million","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/us-bitcoin-etfs-see-second-best-net-inflow-day-with-886-6-million\/","title":{"rendered":"US Bitcoin ETFs See Second-Best Net Inflow Day with $886.6 Million"},"content":{"rendered":"<p>Preliminary data shows that the United States spot <strong>Bitcoin exchange-traded funds (ETFs)<\/strong> had the second-best-ever joint net inflow day of $886.6 million.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/us-bitcoin-etfs-see-second-best-net-inflow-day-with-886-6-million\/#Top_Performers_in_Net_Inflows\" title=\"Top Performers in Net Inflows\">Top Performers in Net Inflows<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/us-bitcoin-etfs-see-second-best-net-inflow-day-with-886-6-million\/#Grayscale_Bitcoin_Trust_and_Market_Reactions\" title=\"Grayscale Bitcoin Trust and Market Reactions\">Grayscale Bitcoin Trust and Market Reactions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/us-bitcoin-etfs-see-second-best-net-inflow-day-with-886-6-million\/#Industry_Reactions_and_Market_Impact\" title=\"Industry Reactions and Market Impact\">Industry Reactions and Market Impact<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"Top_Performers_in_Net_Inflows\"><\/span>Top Performers in Net Inflows<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p>According to early data from Farside Investors, <strong>BlackRock&#8217;s iShares Bitcoin Trust (IBIT)<\/strong> ranked second with <strong>$274 million<\/strong>, while the <strong>Fidelity Wise Origin Bitcoin Fund (FBTC)<\/strong> received the highest inflow at $378.7 million.<\/p>\n<p>With $138.7 million in net inflows, the ARK 21Shares Bitcoin ETF (ARKB) ranked third-best according to Farside statistics.<\/p>\n<p>With a record $1.04 billion, it is the greatest net inflows the funds have seen since March 12. One day later, on March 13, Bitcoin reached an all-time high of $73,679.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Grayscale_Bitcoin_Trust_and_Market_Reactions\"><\/span>Grayscale Bitcoin Trust and Market Reactions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Since it changed from a closed-end fund to a spot ETF in January, Farside data revealed that the <strong>Grayscale Bitcoin Trust (GBTC)<\/strong> witnessed a rare inflow day at $28.2 million, the sixth time it has received an inflow.<\/p>\n<p><a href=\"https:\/\/coinengineer.net\/blog\/ftx-and-irs-agree-on-24b-tax-settlement\/\"><em><span style=\"font-weight: 400;\">This Might Interest You:\u00a0<\/span>FTX and IRS Agree on $24B Tax Settlement<\/em><\/a><\/p>\n<p>With its high management fee of 1.5% and reduced discount that saw many investors see a chance to escape, GBTC has experienced nearly $17.8 billion in net withdrawals.<\/p>\n<p>Originally holding 620,000 BTC when the first Bitcoin ETFs debuted, Grayscale&#8217;s Bitcoin fund has dropped to 285,481 BTC, valued at $20.2 billion, per Apollo Bitcoin Tracker.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Industry_Reactions_and_Market_Impact\"><\/span>Industry Reactions and Market Impact<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Responding to Bitcoin detractors on X who said the Bitcoin ETFs would find little demand, ETF Store president Nate Geraci shot back.<\/p>\n<p>Geraci wrote: <em>&#8220;I was advised some months ago that all of the &#8216;degen retail&#8217; investors who wanted to buy had already done so, and there was nobody left. How would this be?&#8221;<\/em><\/p>\n<p>Bloomberg ETF analyst Eric Balchunas<a href=\"https:\/\/x.com\/EricBalchunas\/status\/1798156058487382232\"> wrote on X<\/a> that it was <em>&#8220;big-time flows all around today for The Ten,&#8221;<\/em> the Bitcoin ETF bar Hashdex&#8217;s, which joined the market months after the others had started and has battled to see inflows.<\/p>\n<p>With each issuer posting no flows for June 4, <strong>the Bitcoin ETFs<\/strong> from Invesco Galaxy, Franklin Templeton, WisdomTree, and Hashdex had no interest.<\/p>\n<p>It comes as CoinGecko reports Bitcoin has rebounded 2.9% to $71,000 over the past 24 hours.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Preliminary data shows that the United States spot Bitcoin exchange-traded funds (ETFs) had the second-best-ever joint net inflow day of $886.6 million. Top Performers in Net Inflows According to early data from Farside Investors, BlackRock&#8217;s iShares Bitcoin Trust (IBIT) ranked second with $274 million, while the Fidelity Wise Origin Bitcoin Fund (FBTC) received the highest<\/p>\n","protected":false},"author":6,"featured_media":13677,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1],"tags":[61,2072,3759],"class_list":["post-22025","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","tag-bitcoin","tag-bitcoin-etfs","tag-grayscale-bitcoin-trust"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>US Bitcoin ETFs See Second-Best Net Inflow Day with $886.6 Million<\/title>\n<meta name=\"description\" content=\"US spot Bitcoin ETFs experience the second-highest net inflow day 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