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Bitcoin ETF Roundup May 30: Fidelity Leads the Charge With $119M in Net Inflows 

On May 30, the investment vehicles recorded $48.706 million in net inflow, bringing their historical inflows to nearly $14 billion.

Spot Bitcoin ETF

 Spot bitcoin ETFs have continued their positive inflow momentum, recording $48.706 million in net inflow on May 30. With the latest figure, the financial products have now recorded a cumulative net inflow of $13.809 billion since they started trading on January 11.

Bitcoin Spot ETF Inflows 

According to data from SoSoValue, Fidelity Wise Origin Bitcoin Fund (FBTC) saw the highest single-day inflow with $119 million. Trailing FBTC is Bitwise Bitcoin ETF (BITB) with an inflow of $26 million. BlackRock iShares Bitcoin Trust (IBIT) and Invesco/Galaxy (BTCO) both saw a tiny inflow of $2 million each.

Grayscale Bitcoin Trust (GBTC), VanEck Bitcoin Trust (HODL), Valkyrie Bitcoin Fund (BRRR), Valkyrie Bitcoin Fund (BRRR), Franklin Bitcoin ETF (EZBC), WisdomTree Bitcoin Fund (BTCW), and Hashdex Bitcoin ETF (DEFI) maintained a holding pattern, experiencing no outflows or inflows on the same day.

Growing Interest 

The continuous inflows into Bitcoin spot ETFs highlight institutional investors’ growing interest in gaining exposure to the pioneering cryptocurrency through a regulated product. Indeed, Bitcoin spot ETFs offer a regulated and easier way to gain exposure to BTC than directly buying the digital asset from cryptocurrency exchanges.

Spot bitcoin ETFs continue to be one of the major catalysts driving the price of BTC since the beginning of the year. For instance, consistent inflows from the products have always been followed by a surge in the price of the digital asset. BTC even broke a record by hitting a new all-time high (ATH) for the first time before halving the event because of these financial products.

Since these products were approved in January, the price of BTC has risen by more than 75%. Moreover, the asset’s value has seen an impressive 150% surge over the past year. At the time of writing this line, BTC was hovering around $68,000.

Lucky Ebosele

Lucky Ebosele is an avid writer with over two years of experience covering cryptocurrencies and blockchain tech. He is constantly researching the latest trends and developments in the space. Away from crypto, he loves everything football.