Bitcoin ETFs See $303M Inflows as BTC Soars North of $65K

Spot Bitcoin ETFs witness their second-largest net inflows of the month as BTC consolidates.

A golden Bitcoin rocket hurdling through space.
Created by Gabor Kovacs from DailyCoin
  • Spot Bitcoin ETFs witnessed a smooth trading day on Wednesday.
  • The funds recorded their second-largest inflows of the month.
  • The inflows mirrored the sudden BTC rally to a key support level.

U.S.-listed spot Bitcoin exchange-traded funds (ETFs) saw millions in inflows on Wednesday, with Grayscale’s GBTC fund posting its third-ever net inflows since its debut in January.

The market performance comes as the industry’s largest crypto asset by market cap, Bitcoin, has surged over 6% in the last 24 hours to reclaim a key support level, signaling BTC’s bullish patterns and its proximity to a re-accumulation zone.

Bitcoin ETFs Record Largest Inflows Since May 3

According to provisional data shared by Farside Investors, the Nasdaq-listed Bitcoin ETFs recorded a total net inflow of $303 million on May 15, their largest inflow since May 3, when the fund attracted $378.3 million.

Sponsored

Fidelity’s FBTC led the day’s inflows, attracting $131.3 million, followed by Bitwise’s BITB at $86.3 million inflows and Ark Invest’s ARKB at $38.6 million inflows.

Notably, Grayscale’s converted fund (GBTC), the largest spot Bitcoin ETF in net asset value, recorded its third-ever net inflow, raking in 27 million, as both IBIT and DEFI saw $0 daily flows on Wednesday.

VanEck’s HODL, Invesco’s BTCO, Valkyrie’s BRRR, WisdomTree’s BTCW, and Franklin Templeton’s EZBC posted single-digit inflows of $7.5 million, $4.6 million, $3.7 million, $2.1 million, and $1.9 million respectively.

Sponsored

The turnaround in inflows for the Bitcoin ETFs mirrored the sudden price change in BTC, jumping from a daily low of $62K to tease north of $65K on May 15. As of press time, BTC was exchanging hands at $66,284, CoinMarketCap data shows.  

Stay updated on Hong Kong’s first crypto ETF liquidity fund:
Hong Kong Sees First Crypto ETF Liquidity Fund Worth $128M

Read why the future of Ethereum ETFs in the U.S. is uncertain:
Ethereum ETFs in Doubt: BlackRock Filing Details SEC’s Play

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.