Localized Bitcoin ETFs See Strong Inflows

The total net inflow of spot Bitcoin ETFs on May 22 was $154 million, continuing an eight-day streak of positive inflows.

Meanwhile, the Grayscale Bitcoin Trust ETF (GBTC) saw an outflow of $16.0914 million. BlackRock’s iShares Bitcoin Trust (IBIT) had a single-day inflow of $91.9527 million, and Fidelity’s FBTC ETF saw an inflow of $74.572 million. Ark Invest’s ARKB also saw an inflow of $3 million.

Other ETFs, including Bitwise’s BITB, VanEck’s HODL, Galaxy Digital’s BTCO, Valkyrie’s BRRR, Franklin Templeton’s EZBC and WisdomTree’s BTCW, showed no activity on the day, according to data collected by SoSoValue.

The renewed interest in Bitcoin spot ETFs is attributed to a recent surge in BTC prices, which rose 5% over the past week. On May 21, the leading cryptocurrency hit a six-week high of $71,600 before falling below $70,000.

After weeks of setbacks, these entries reflect growing adoption of Bitcoin in the traditional financial world, with significant commitment from established financial institutions.

K33 Research recently revealed that as of March 31, 937 US professional firms had invested in the local Bitcoin ETF market.

Among the largest investors were Millennium Management, a major hedge fund, and Susquehanna International Group (SIG), a global quantitative trading firm, with investments of $2 billion and $1 billion, respectively.

Bracebridge Capital, a Boston-based hedge fund that manages funds for universities such as Yale and Princeton, is in third place, closely followed by Boothbay Fund, a New York-based fund manager, with ETF purchases for worth $434 million and $377 million, respectively. .

Significant investments also came from major US banking firm Morgan Stanley and advisory firm Pine Ridge Advisers, totaling $269 million and $205.8 million, respectively.

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