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Reported by The Block: The spot bitcoin ETFs in the U.S. reported $53.35 million in net inflows on Wednesday.
BlackRock’s IBIT led inflows with $110.37 million.
The 11 U.S. spot bitcoin exchange-traded funds saw $53.35 million in total daily net inflows on Wednesday, extending the positive streak to its ninth day. However, Wednesday’s net inflows were significantly lower than Tuesday’s $422 million.
BlackRock’s IBIT posted the largest net inflows of the day, drawing in $110.37 million, according to SoSoValue data. The largest spot bitcoin ETF in terms of net asset value saw $1.21 billion worth of trade volume on Wednesday. The only other fund that posted net inflows was Fidelity’s FBTC, which reported $2.83 million.
On the other hand, Grayscale’s GBTC saw $53.86 million net outflows, along with $6 million outflows from Bitwise’s BITB. Remaining seven funds, including Ark Invest and 21Shares’ ARKB, reported zero flows yesterday.
A total of $1.79 billion worth of value was traded on the U.S. spot bitcoin funds on Wednesday. The level of trade volume remains significantly lower than that of March, when over $8 billion was traded on some days. The ETFs have accumulated a total net inflow of $16.59 billion since launching in January.
The price of bitcoin inched down 0.42% in the past 24 hours to trade at $64,776, according to The Block’s bitcoin price page.
On Wednesday, U.S. ETF issuers BlackRock, Fidelity, Grayscale, Bitwise and others unveiled their fee rates for the upcoming spot Ethereum ETFs. BlackRock set its fee at 0.25%, as several other issuers set their rates at a similar level. Grayscale, however, set its fee for the Grayscale Ethereum Trust at 2.5%, significantly higher than the other issuers.
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