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Bitcoin ETFs Score Second-Highest Inflow Ever: $887M

Bitcoin spot exchange-traded funds (ETFs) in the United States saw a significant surge in daily net inflows on June 4
June 6, 2024

Bitcoin spot exchange-traded funds (ETFs) in the U.S. continue to make waves, witnessing their second-highest daily net inflows since inception. On June 4, these funds drew in a remarkable $886.75 million, marking a surge in investor interest.

Leading the pack, Fidelity's FBTC and BlackRock's IBIT contributed substantially, with $379 million and $274 million in net inflows, respectively. This uptick brings the cumulative total net inflows for spot Bitcoin ETFs to a significant $14.85 billion.

Notably, ARK Invest and 21Shares' ARKB and Bitwise's BITB also recorded notable inflows, signaling a broad interest across the market. Even Grayscale's GBTC saw its third-largest net inflow since its conversion, attracting $28 million.

This sustained positive momentum extends the streak of consecutive net inflows to 16 days, reflecting growing investor confidence. Despite a correction phase from its all-time highs, Bitcoin's value briefly touched $71,000 late Tuesday night, suggesting a potential market rebound.

While Bitcoin ETFs thrive, the U.S. market anticipates the arrival of spot Ethereum ETFs, with major issuers gearing up for SEC approval. Analysts predict substantial net inflows into Ethereum funds, further diversifying the digital asset landscape.

In a landmark move, Thailand's One Asset Management (ONEAM) becomes the first in the country to launch a Bitcoin ETF, marking a significant stride in Thailand's cryptocurrency regulation. With regulatory approval secured, ONEAM's Bitcoin ETF aims to offer institutional investors and high-net-worth individuals exposure to the crypto market.

As global interest in digital assets continues to surge, the launch of Bitcoin ETFs in Thailand underscores the growing acceptance and adoption of cryptocurrencies worldwide.

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