Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
On Monday, May 4, the net capital inflow into spot Bitcoin exchange-traded funds (ETFs) reached $532.2 million. Over the past three trading days, the total capital raised amounted to $1.18 billion, following inflows of $629.7 million on May 1 and $14.8 million on April 30, according to data from the SoSoValue platform.
The leading daily inflow was recorded by the iShares Bitcoin Trust (IBIT) from BlackRock, attracting $335.49 million, followed by the Wise Origin Bitcoin Fund (FBTC) from Fidelity with $184.57 million. Another fund that saw an inflow was the Bitcoin ETF from Morgan Stanley (MSBT), which reported $12.16 million. The remaining 10 ETFs, including Grayscale’s GBTC and Franklin Templeton’s EZBC, did not experience any capital inflow for the day, but also did not see any outflows.
As of May 4, the total net inflow for 13 spot Bitcoin ETFs stood at $59.3 billion. The overall net assets managed by these funds reached $106.4 billion, which represents approximately 6.7% of Bitcoin’s market capitalization ($1.62 trillion). This significant influx of funds into Bitcoin ETFs occurred after a three-day period of outflows, during which $490.63 million was withdrawn from Bitcoin funds.
Related Posts
The inflow of funds into spot BTC ETFs resumed after Bitcoin surpassed the $80,000 mark for the first time in three months, driven by improved trader sentiment following a ceasefire agreement between the U.S. and Iran. Bitcoin is currently trading above $81,000, with a daily trading volume of $42.04 billion. Analysts at Bitunix suggest this indicates a renewed appetite among investors for riskier assets.
However, Bitunix expresses concerns that the situation could change, as economic and political factors influence the dynamics of the crypto market. For instance, Iran has threatened that a U.S. military operation in the Strait of Hormuz could disrupt the existing ceasefire, which analysts believe could negatively impact Bitcoin.
Nevertheless, Matt Hougan, the Chief Investment Officer at Bitwise, believes that the primary driver behind Bitcoin’s recovery is not investor contributions to cryptocurrency ETFs, but rather the purchases of Bitcoin by Strategy, recognized as the largest corporate holder of BTC.
