ETF Bitcoin in the United States recorded a record-breaking day with $880 million in inflows, led by Fidelity’s FBTC ETF.
Bitcoin reached $71,000, up 3%, while Binance’s BNB skyrocketed nearly 9%.
In the last four weeks, inflows into ETFs have significantly increased, totaling $3.3 billion, as positive sentiment for cryptocurrencies continues to grow.
The ETF Bitcoin Spot saw massive inflows yesterday, with over $880 million raised, fueled by Fidelity’s FBTC.
These figures represent the best daily performance since March and the second-best day since the launch of the 11 Bitcoin ETFs in January. Fidelity led the day with $378 million inflows for its FBTC ETF, followed by BlackRock with its IBIT attracting $270 million. Grayscale, often criticized for its outflows, saw $28 million in inflows.
At the time the ETF inflow data was released, Bitcoin crossed the $71,000 mark this morning, increasing 3% in the last 24 hours and attracting the market along with it.
Inflow activity has recently picked up, driven by a general sense of optimism after a challenging period from mid-April to early May, marked by days of no net inflows and notable outflows from major ETFs like BlackRock’s.
According to Bloomberg analyst Eric Balchunas, ETFs have accumulated $3.3 billion in the past four weeks, with their net total for the year surpassing $15 billion. This surge in activity comes a few weeks after the approval of Ethereum Spot ETFs in the United States and a favorable climate for cryptocurrencies stemming from the ongoing presidential campaign.
