HomeCrypto NewsBlackRock's IBIT Leads the Way as Spot Bitcoin ETFs Continue to See...

BlackRock’s IBIT Leads the Way as Spot Bitcoin ETFs Continue to See Inflows

Spot Bitcoin ETFs Maintain Impressive Inflow Streak

Spot Bitcoin ETFs in the US have been on a winning streak since their launch in January, with a remarkable net inflow of $220 million as of yesterday. The trend continued for the 18th consecutive trading day, with BlackRock’s IBIT leading the pack in daily inflows.

The US spot Bitcoin ETFs have seen a surge in investor interest, with a continuous inflow streak since May 10, when Grayscale’s GBTC recorded an outflow of $103 million. However, the tide turned in favor of the ETFs, with a total inflow of $217.7 million on June 6.

Fidelity’s ETF, FBTC, has also made waves in the market with significant inflows, surpassing $9.5 billion in total assets under management. With inflows of $378.7 million on June 4 and $220.6 million on June 5, FBTC has been a standout performer in the spot Bitcoin ETF market.

Despite the positive performance of the ETFs, the underlying crypto asset, Bitcoin, has only shown a mild reaction, trading at $71,286 with a 0.54% increase over the past day. With a market cap of $1.404 trillion and a dominance of 53.23% over altcoins, Bitcoin continues to be a key player in the cryptocurrency market.

Overall, the US spot Bitcoin ETFs have demonstrated resilience and investor confidence, with inflows continuing to drive their growth and performance in the market.

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