US spot bitcoin #ETFs have recorded their second-highest net inflow day, amassing $887M. The Fidelity Wise Origin #Bitcoin Fund (FBTC) led the pack with $378.7M, closely followed by #BlackRock’s iShares Bitcoin Trust (IBIT) at $275M. Bitcoin prices surged to nearly $72K on Wednesday, increasing more than 5% over the past five days.
ARK 21Shares Bitcoin ETF (ARKB) also saw significant activity, with net inflows exceeding $138M. This wave of investment marks the highest inflows since March 12, when these funds collectively drew in a record $1.04B, propelling Bitcoin to a new peak the following day. #Grayscale Bitcoin Trust (GBTC) also had a rare influx, receiving $28.2M, marking only the seventh net positive day of inflows since its conversion to a spot ETF in January.
With spot #ETH ETFs also in the headlines this week, some experts believe that the investment vehicles could see close to $5B worth of inflows in just the first 5 months after they begin trading. It has been noted however that these ETFs will not be able to accrue staking yield rewards upon launch