U.S. spot bitcoin exchange-traded funds (ETFs) performed well on Wednesday, completing a three-day streak of inflows and accumulating $303 million in gains on May 15. Data indicates Blackrock’s IBIT inflows have been minimal, recording zero inflows over the past few trading sessions. In contrast, Grayscale’s Bitcoin Trust (GBTC) saw inflows of approximately $27 million during the day.

FBTC Leads the Pack on Wednesday, GBTC Pulls in Another Day of Inflows

Spot bitcoin ETFs traded in the U.S. have shown strong performance this week, with three consecutive days of inflows. This three-day streak followed two modest days of outflows last week.

On Monday, the group of ETFs experienced $66 million in positive inflows and $1.22 billion in trade volume. Tuesday recorded $100.5 million in net inflows and $977 million in volume.

Wednesday’s activity pushed the week even higher, with a total of $303 million in positive inflows, according to figures from coinglass.com. GBTC recorded another day of gains with $27 million in inflows, but Fidelity’s FBTC led the day by attracting $131 million.

Other ETFs saw modest inflows, while IBIT recorded no inflows, and BITB gathered nearly $87 million during the trading sessions. As of Wednesday morning, GBTC held 289,336.91 BTC, while the firm reported a total of 288,497.65 BTC held in reserves.

GBTC’s reserve figure may see a slight increase with tomorrow’s GBTC website reserve update. GBTC remains the largest U.S. spot bitcoin ETF, followed by IBIT with 274,755.14 BTC in holdings.

FBTC holds 155,744.78 BTC at press time, and Ark Invest’s ARKB fund contains 46,280 BTC. Bitwise’s BITB fund secures approximately 35,416.53 BTC in reserves today. The recent inflow trends among U.S. spot bitcoin ETFs highlight a competitive landscape, with different funds experiencing varying levels of success since they launched in January.

Source : Bitcoin News / May 16, 2024