Bitcoin ExchangeTraded Funds ETFs Achieve Landmark with Record 887 Million Inflows

In a positive turn of events amidst market growth, Bitcoin exchange-traded funds (ETFs) near the US achieved a significant milestone on June 4th. BTC products experienced their second-largest daily net inflows since trading commenced on January 11th.
Bitcoin ETFs reported US$886.75 million in daily net inflows on June 4th. The highest recorded inflows from spot Bitcoin-based ETFs occurred during the market peak on March 12th, with inflows totaling $1.05 billion.
Leading the pack in terms of net inflows on that day was Fidelity’s FBTC ETF, bringing in a total of US$379 million. Following closely behind was IBIT from BlackRock, which garnered net inflows of US$274 million, as per data from SoSoValue. The data also indicated that total net inflows accumulated up to June 4th amounted to US$14.85 billion.
Key points discussed in this article:
– Bitcoin’s rise fueled by ETFs
– Thailand’s approval of its first spot Bitcoin ETF
Bitcoin’s price surged today, hitting a peak of US$71,321.98 in the morning. In recent days, the price of the leading cryptocurrency has seen substantial fluctuations, with this increase marking a significant step towards Bitcoin’s recovery, edging closer to surpassing its all-time high.
This recent resurgence of the primary crypto asset coincides with substantial inflows into US spot Bitcoin-based exchange-traded funds (ETFs). The Bitcoin price saw a 4% increase in the past day, only to retract shortly after.
At the time of writing, Bitcoin’s price stood at US$70,948.34, reflecting a 3.0% rise in the last 24 hours. The highest price ever paid for Bitcoin was $73,737.94, recorded on March 14th (3 months ago). Comparatively, the current price is 3.87% lower than BTC’s all-time peak.
Thailand’s recent approval of its first spot Bitcoin ETF signifies a milestone in the cryptocurrency industry within the country. The Securities and Exchange Commission (SEC) of Thailand greenlit the launch of the inaugural spot Bitcoin-based ETF, as reported in a Bangkok Post article on June 4th.
This significant advancement in Thailand follows the SEC’s implementation of stricter measures related to Bitcoin ETFs in March, which included permitting institutions and ultra-high net worth individuals (UHNWIs) to invest in US-listed products through local private funds.
Disclaimer:
The opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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