Bitcoin ETFs Surge with $1.83B Inflows, Dominating Over ETH and HK Markets

Trend:

The current week represents a significant change from previous weeks, characterized by a substantial increase in fund volume. The total volume of funds has risen to $1.83B, marking an increase of 969.92%. This surge indicates a robust recovery after a period of decline. For the market and investors, this increase suggests renewed interest and confidence in ETFs, particularly in the Bitcoin sector.

Comparison Total Flows of Hong Kong vs US ETFs:

The total flows for US ETFs amounted to $1.83B, whereas Hong Kong ETFs saw no inflows, totaling $0. This stark difference can be attributed to the higher adoption and market maturity of ETFs in the US compared to Hong Kong. Additionally, regulatory environments and investor confidence play a crucial role in these disparate figures.

Comparison Total Flows of Bitcoin vs ETH ETFs:

The total flows for Bitcoin ETFs reached $1.83B, while ETH ETFs had no inflows, totaling $0. The current trend shows a significant preference for Bitcoin ETFs over ETH ETFs. This could be due to Bitcoin's established market presence and higher investor trust compared to Ethereum, which is still gaining traction.

Biggest Gainer:

The ETF with the biggest gain this week is IBIT, with a gain of $948.00M. Issued by BlackRock, IBIT is a prominent Bitcoin ETF that has seen substantial investor interest, reflecting confidence in its performance and potential returns.

Biggest Loser:

The ETF with the biggest loss this week is GBTC, with a loss of -$31.10M. Issued by Digital Currency Group, Inc. (Grayscale), GBTC has experienced a downturn, possibly due to market fluctuations or shifts in investor sentiment.

Day with the Highest Inflow:

The day with the highest inflow was Monday, with an amount of $1.04B. On this day, the ETF with the highest gain was IBIT, with a gain of $849.00M. Conversely, the ETF with the largest loss was GBTC, with a loss of -$79.00M. IBIT, issued by BlackRock, continues to attract significant investment, whereas GBTC, issued by Digital Currency Group, Inc. (Grayscale), faced notable outflows.

Day with the Highest Outflow:

The day with the highest outflow was Wednesday, with an amount of -$563.70M. On this day, the ETF with the highest gain was BTCO, with a gain of -$5.40M, while the ETF with the largest loss was FBTC, with a loss of -$191.10M. BTCO, the Invesco Galaxy Bitcoin ETF, saw minor inflows, whereas FBTC, the Fidelity Wise Origin Bitcoin Fund issued by Fidelity, experienced significant outflows.

Bitcoin ETFs Performance and Adoption

Grayscale was holding about 619,220 BTC when the spot ETFs started trading, worth over $28.5 billion at the time. Read more.

Australia's Monochrome Asset Management's Bitcoin ETF (IBTC) will begin trading on the Cboe Australia exchange. Read more.

Bitcoin ETFs experienced their second highest daily net inflows on June 4, amounting to $886.75 million. Read more.

BlackRock’s IBIT spot bitcoin ETF has exceeded 300,000 BTC in assets under management after five months of trading. Read more.

Bitcoin ETFs in the U.S. saw inflows of over $488 million, despite low search interest. Read more.

Wisconsin's pension plan added two spot bitcoin ETFs to its portfolio, likely marking the beginning of more investments into crypto. Read more.

Ethereum ETFs and Market Impact

SEC Chair Gary Gensler took a less hostile approach to crypto in a new interview following Ethereum ETF approvals. Read more.

Bernstein analysts doubt political influence in SEC’s spot Ethereum ETF approvals after Biden's veto. Read more.

Crypto exchanges have seen massive Ethereum outflows since the listing approval of spot ETH ETFs. Read more.

Analysts observed higher implied volatility in ether options compared to bitcoin options as traders eye spot ETFs rollout. Read more.

SEC Ethereum ETF decision unlikely driven by politics, according to Bernstein analysts. Read more.

Ethereum ETFs could attract $4 billion in inflows in the first five months, according to K33 Research. Read more.

Future ETF Developments

Ripple CEO Brad Garlinghouse predicts an XRP ETF launch by 2025 amid growing crypto market interest. Read more.

Franklin Templeton is eyeing a new crypto fund after Ethereum ETF approval, focusing on altcoins and staking rewards. Read more.

Animoca Brands' Chairman Yat Siu suggested that Hong Kong may introduce staking for spot Ethereum ETFs within this year. Read more.

SEC Chair Gary Gensler mentioned that the launch date for Ethereum ETFs depends on issuers, not the SEC. Read more.