On June 3, 2024, the Bitcoin ETF market experienced a notable influx of $105 million, marking the 15th consecutive day of positive inflows. Fidelity’s ETF (FBTC) led the way with the highest inflow of $77 million on that day, making a significant contribution to the overall positive net inflow trend.
Grayscale (GBTC) and BlackRock (IBIT) both saw a net flow of $0, indicating stability for these major ETFs. Despite this, market sentiment remains optimistic.
Australia made a significant move by launching its first spot Bitcoin ETF on June 3, 2024. This ETF, which directly holds Bitcoin, represents a notable development in the global cryptocurrency market, showcasing the increasing institutional interest and adoption of digital assets.
The continuous positive net inflows into Bitcoin ETFs, along with the introduction of new ETFs like the one in Australia, point towards a sustained and strong interest in Bitcoin among institutional investors. This trend is likely to impact Bitcoin’s market dynamics in the months ahead.