On June 3, 2024, the Bitcoin ETF market experienced a significant influx of $105 million, marking the 15th consecutive trading day of positive inflows. Fidelity’s ETF, FBTC, recorded the highest inflow of the day, totaling $77 million. This substantial contribution played a crucial role in the overall positive net inflow.
Notably, Grayscale (GBTC) and BlackRock (IBIT) both had a net flow of zero, indicating stable positions for these prominent ETFs. Despite this, the general market sentiment remains positive.
In addition to these developments, Australia launched its first spot Bitcoin ETF on June 3, 2024. This ETF directly holds Bitcoin and represents a significant milestone in the global cryptocurrency market, highlighting the increasing institutional interest and adoption.
The consistent positive net inflows into Bitcoin ETFs, along with the introduction of new ETFs like the one in Australia, indicate a strong and sustained interest in Bitcoin among institutional investors. This trend is likely to have a significant impact on Bitcoin’s market dynamics in the upcoming months.