The post Spot Bitcoin ETFs Net Inflow is Hitting High; Who is the Catalyst? appeared on BitcoinEthereumNews.com.

On June 7, the total net inflow of spot Bitcoin ETFs was recorded at $130.99 Million, with over $15.69 Billion in cumulative total net inflow. BlackRock ETF IBIT acted as a catalyst and documented a single-day net inflow of $168 Million.       Spot Bitcoin ETFs’ Outstanding Performance Wu Blockchain highlighted the outstanding spot Bitcoin ETF performance on June 7. The daily total net inflow was recorded at $130.99 Million, $15.69 Billion in cumulative total net inflow, and $2.54 Billion in total traded value.  On June 7, the total net inflow of Bitcoin spot ETFs was $131 million. Grayscale ETF GBTC had a single-day outflow of $36.3411 million, and BlackRock ETF IBIT had a single-day inflow of $168 million. The total net asset value of Bitcoin spot ETFs is $61.104 billion.… pic.twitter.com/dMd5trdYjS — Wu Blockchain (@WuBlockchain) June 8, 2024 Since the launch date, spot Bitcoin ETF has held a market cap of $62.87 Billion and $54.35 Billion in total assets under management (AUM).   IBIT and Ark Investment ETF (ARKB) played a crucial role in booming the single-day net inflow. IBIT documented a one-day net inflow of $168 Million and $18 Billion in cumulative net inflow. ARKB, alternatively, recorded a net inflow of $7 Million and $3 Billion in cumulative net inflow on June 7. It showcases that investors and traders are investing more in IBIT and ARKB than other ETFs. Grayscale, another prominent spot Bitcoin ETF provider, registered a net outflow of $36 Million and $18 Billion in cumulative net outflow on the same day. Investors are selling their Grayscale ETF (GBTC) shares, indicating a decline in investor interest in GBTC.         Comparison of Grayscale & BlackRock ETFs Grayscale and BlackRock are two prominent players in the spot Bitcoin ETF, holding over $320.76 Million and $522.68 Million in shares outstanding, respectively. IBIT has…

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Filed under: News - @ June 8, 2024 2:24 pm