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- There was a total net inflow of $100.5 million into the Bitcoin spot ETF market on May 14.
- Ark Invest accounted for the inflow lion’s share with a $133 million total net inflow.
- Grayscale’s GBTC recorded a net outflow of approximately $51 million on the same day.
According to data from Soso Value, there was a total net inflow of $100.5 million into the Bitcoin spot ETF market on Tuesday, May 14, 2024. Delving into the inflow details reveals Ark Invest and 21Shares ETF (ARKB) accounted for the lion’s share of the total inflow.
According to SoSoValue, total net inflows into Bitcoin spot ETFs on May 14 were $100.5 million. Grayscale ETF GBTC had a single-day net outflow of $50.9317 million, Ark Invest and 21Shares ETF ARKB had a single-day net inflow of US$133 million, and the total net asset value of… pic.twitter.com/lUwl8UV87B— Wu Blockchain (@WuBlockchain) May 15, 2024
Meanwhile, the Grayscale Bitcoin Trust (GBTC) continued with persistent outflow, recording a total net outflow of approximately $51 million. That made GBTC the only Bitcoin spot ETF product with a negative inflow on the day.
With the latest figures, the total net assets of the Bitcoin spot ETF are worth $50.99 billion, rising by 4.2% on Tuesday. That brings the total value traded in the Bitcoin spot ETF market to $977.78 as of May 14.
Other ETF products making up the total net inflow include Fidelity’s FBTC, with an inflow of $8 million on Tuesday. Invesco’s BTCO attracted $6 million in inflow, while VanEck’s HODL recorded an inflow of $2 million. Others include Franklin Templeton’s EZBC, which had an inflow of $2 million, and Valkyrie’s BRRR, which attracted $1 million in total net inflow.
BTC reacted to the activities surrounding the Bitcoin spot ETF market by displaying significant volatility midway into the overall trading day, coinciding with the opening of the U.S. market. Bitcoin’s price fluctuated between $61,100 and $62,300 within one hour before settling into the original downward direction.
The flagship crypto closed the day at $61,108 but has shown early signs of an upside recovery on Wednesday, May 15. Bitcoin traded for $61,913 at the time of writing after gaining almost 1% since the trading session opened, according to data from TradingView.
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