Bitcoin ETFs Witness Massive Inflows with Fidelity and BlackRock Leading the Charge

In an impressive show of investor confidence, United States-based spot Bitcoin exchange-traded funds (ETFs) have witnessed their second-largest one-day net inflow, recording a substantial $886.6 million. This remarkable inflow highlights the increasing interest in Bitcoin ETFs and the growing acceptance of Bitcoin as a legitimate investment vehicle.  

The standout performer of the day was the Fidelity Wise Origin Bitcoin Fund (FBTC), which attracted a staggering $378.7 million. Closely following was BlackRock’s iShares Bitcoin Trust (IBIT) with an influx of $274.4 million. Trailing in third place, the ARK 21Shares Bitcoin ETF (ARKB) garnered $138.7 million, as per early data from Farside Investors.  

This surge in net inflows is the highest since March 12, when Bitcoin ETFs saw a record-breaking $1.04 billion in a single day. Notably, the Grayscale Bitcoin Trust (GBTC) experienced a rare inflow day of $28.2 million, making it only the seventh inflow day since its transition from a closed-end fund to a spot ETF earlier this year.  

Interestingly, despite this influx, ETFs from Invesco Galaxy, Franklin Templeton, WisdomTree, and Hashdex didn’t record any inflows on June 4. The market’s enthusiasm for Bitcoin was reflected in the spot price rallying 2.9%, reaching $71,000 over the last 24 hours, according to CoinGecko. 

ETF Store president Nate Geraci addressed Bitcoin critics on X, highlighting the strong demand for Bitcoin ETFs. “I was told several months ago that all of the ‘degen retail’ investors who wanted to buy had already done so [and] there was nobody left,” Geraci wrote. “How can this be?”  

Bloomberg ETF analyst Eric Balchunas also chimed in on X, noting it was a significant day with robust flows for most of the Bitcoin ETFs, except for Hashdex’s ETF, which has struggled to attract investor interest since joining the market later than its peers.