tl;dr
Institutional investors are increasingly involved in Bitcoin ETFs, with U.S. spot Bitcoin ETFs experiencing eight consecutive days of outflows. On May 22, BlackRock's Bitcoin spot ETF saw a single-day inflow of $91.9527 million, positioning it to overtake Grayscale's ETF as the largest in terms of a...
Institutional investors are increasingly involved in Bitcoin ETFs, with U.S. spot Bitcoin ETFs experiencing eight consecutive days of outflows. On May 22, BlackRock's Bitcoin spot ETF saw a single-day inflow of $91.9527 million, positioning it to overtake Grayscale's ETF as the largest in terms of assets under management. Additionally, global ETFs are close to accumulating more than 1 million BTCs. WisdomTree has received authorization from the U.K. Financial Conduct Authority to introduce Bitcoin and Ethereum Exchange-Traded Products on the London Stock Exchange. Despite modest capital inflows, the decrease in selling activity and volatility in the Bitcoin market indicate the potential for a significant market shift in the near future.
On May 22, the net inflow of Bitcoin spot ETF amounted to US$154 million, extending the streak of net inflows for eight consecutive days, per the data from Farside Investors. On the same day, Grayscale ETF GBTC experienced an outflow of $16.0914 million, while BlackRock ETF IBIT recorded a single-day inflow of $91.9527 million. Additionally, Fidelity ETF FBTC saw an inflow of $74.572 million on the same day. With this development, BlackRock is on the verge of overtaking GBTC as the largest Bitcoin ETF with the most assets under management. Bitcoin ETFs are also on the verge of accumulating more than 850,000 Bitcoins, and global ETFs are close to accumulating more than 1 million BTCs.
WisdomTree, a leading global asset manager, has achieved a noteworthy milestone in the cryptocurrency investment arena, receiving authorization from the U.K. Financial Conduct Authority to introduce Exchange-Traded Products (ETPs) for Bitcoin and Ethereum on the London Stock Exchange. The Bitcoin market has undergone a period of cooling off following months of notable distribution pressure. Despite modest capital inflows, the decrease in selling activity and a reduction in volatility indicate the potential for a significant market shift in the near future.