ETF is back. While Bitcoin returns to tickle $70,000, the spot ETF market applied to BTC is recording a significant resurgence of activity. Indeed, entries once again show record amounts since June 4. A trend that is clearly here to stay, if we believe the dynamic that has been established. Because the $488 million arrived this June 5 to validate longest positive period of the short history of this sector.
Bitcoin spot ETF market restarts
The euphoria seemed to have definitively fallen on the very young market of Spot Bitcoin ETF. Particularly when leader BlackRock started to show negative flows for the very first time.
But the market cryptocurrencies is known for its ability to reborn from the ashes promised by its detractors. And, only a month after this descent into hell, the trend seems set to reverse.
Indeed, this week marks a return of massive entries on the made in US spot Bitcoin ETF market. With a record of $887 million recorded on Tuesday May 4, as we launch the start of a race. And a sector, now to be considered at a global level, which already captures 1 million BTC alone.
New record for positive entries
A trend causing a new record for the spot Bitcoin ETF market. Because these positive entries on May 5 allow it to display a cumulative 17 consecutive days of positive flow. That’s to say longest streak of its kind since their launch last January.
Notable fact, the Fidelity fund (FBTC) seems determined to steal the spotlight – all things considered – from leader BlackRock. In fact, it once again absorbs the most important part entries recorded this June 5. Either $220.6 million (45%) of the $488 million available. And $155.4 million (31%) for the IBIT.
A dynamic of success for Spot Bitcoin ETF which should not, however, overshadow the pebble in the shoe that Grayscale’s GBTC still represents. In fact, he continued to lose almost 300 BTC over this fruitful period of the last 17 days. And even its relative successes in recent days do not allow this bill to be lowered below the $240 million in total.
