US Bitcoin ETFs Cap $170M Inflow Week As Australia Welcomes First Spot Bitcoin ETF
Portfolio Pulse from Murtuza Merchant
US Bitcoin ETFs saw significant inflows last week, with a total net inflow of $170.9 million. Notable inflows were recorded by BlackRock iShares Bitcoin Trust (IBIT), Fidelity Wise Origin Bitcoin Fund (FBTC), and Bitwise’s Bitcoin ETF (BITB). Meanwhile, Grayscale Bitcoin Trust (GBTC) and Ark 21 Shares Bitcoin ETF (ARKB) experienced outflows. In Australia, Monochrome Asset Management launched the first spot Bitcoin ETF, IBTC, on the Cboe Australia exchange.
June 03, 2024 | 12:06 pm
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POSITIVE IMPACT
Bitwise’s Bitcoin ETF (BITB) saw a net inflow of $40.2 million last week.
The inflow indicates growing interest in BITB, which could positively impact its price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Fidelity Wise Origin Bitcoin Fund (FBTC) recorded a net inflow of $177 million last week.
The inflow suggests positive investor sentiment towards FBTC, which could lead to a short-term price increase.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
BlackRock iShares Bitcoin Trust (IBIT) saw a significant net inflow of $297.8 million last week.
The substantial inflow indicates strong investor confidence and demand for IBIT, likely driving its price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Ark 21 Shares Bitcoin ETF (ARKB) recorded a net outflow of $91.8 million last week.
The outflow indicates reduced investor interest in ARKB, which could negatively impact its price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Grayscale Bitcoin Trust (GBTC) experienced a net outflow of $260.6 million last week.
The significant outflow suggests declining investor confidence in GBTC, likely leading to a short-term price decrease.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90