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Bitcoin ETF Inflows Surge
Bitcoin exchange-traded funds (ETFs) in the United States experienced a significant increase in net inflows, totaling $887 million. This marked the second-highest inflow day on record.
Leading Inflows
- The Fidelity Wise Origin Bitcoin Fund (FBTC) led with an inflow of $378.7 million.
- BlackRock’s iShares Bitcoin Trust (IBIT) followed with $275 million.
- The ARK 21Shares Bitcoin ETF (ARKB) also performed well, attracting over $138 million in net inflows.
Unexpected Surge
This surge in demand was unexpected, as earlier forecasts indicated declining interest from retail investors. Notably, Bitcoin ETFs from Invesco Galaxy, Franklin Templeton, WisdomTree, and Hashdex did not see any demand on June 4.
Price Rally Impact
The influx of funds coincided with a 2.9% rally in Bitcoin’s price, which reached $71,000 over the last 24 hours.
Resurgence in Investor Interest
The data reflects a strong resurgence in investor interest in Bitcoin ETFs, contradicting earlier skepticism about their appeal. This development underscores the ongoing evolution and growing significance of cryptocurrency investment vehicles in the financial landscape.
📎 Read the original article on cointelegraph.com
