- 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.
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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.
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.
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