Bitcoin (BTC) Spot ETFs Witness Record $217M Inflows in a Single Day: A New Era in Crypto Investment

• Bitcoin spot ETFs experienced significant net inflows of $217 million on May 6, 2024.
• Despite outflows and fee challenges, GBTC remains the largest spot bitcoin ETF with $18.08 billion in assets.
• Analysts speculate on market recovery and potential uptrends in light of Bitcoin’s price volatility post-halving.

Bitcoin spot ETFs see a surge in net inflows, while GBTC battles outflows and fee challenges. Amidst Bitcoin’s post-halving price volatility, analysts speculate on market recovery and potential uptrends.

Significant Net Inflows into Bitcoin Spot ETFs

On May 6, 2024, Bitcoin spot ETFs saw substantial net inflows totaling $217 million. Grayscale’s ETF, GBTC, recorded a notable single-day net inflow of $3.937 million, while Fidelity’s FBTC experienced a substantial net inflow of $99.1936 million. Ark Invest and 21Shares ETF ARKB also had a significant single-day net inflow of $75.6412 million.

GBTC Faces Outflows and Fee Challenges