U.S. Spot Bitcoin ETFs Record $92M in Daily Inflows Amid Market Dip

cryptonews.com:

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

U.S. spot Bitcoin exchange-traded funds (ETFs) saw a surge in investor interest on Friday, recording $92 million in net inflows despite a market downturn.

The week also witnessed nearly $400 million in total inflows across these funds, according to data from SoSoValue.

Friday’s inflows were distributed among seven bitcoin ETFs, with Fidelity’s FBTC leading the pack, attracting $26.12 million.

The joint fund by Ark Invest and 21Shares, ARKB, followed closely with $21.99 million.

Bitwise’s BITB fund also recorded significant inflows, amounting to $15.08 million, while Grayscale’s Bitcoin Mini Trust saw $13.37 million.

Other bitcoin ETFs, including those from VanEck, Valkyrie, and Invesco, reported smaller but positive inflows.

Notably, there were no net outflows across all funds on Friday, and five funds, including BlackRock’s IBIT, reported zero activity.

The combined daily trading volume for U.S. bitcoin ETFs reached $980.59 million on Friday, with total net inflows since their January launch amounting to $17.69 billion.

The uptick in investment comes amid a challenging period for the broader crypto market, suggesting continued confidence in the long-term potential of bitcoin.

In related news, the U.S. Securities and Exchange Commission (SEC) approved the listing and trading of options for BlackRock’s IBIT ETF, which are expected to start trading on the Nasdaq soon.

Meanwhile, U.S. spot ether ETFs recorded a second consecutive day of positive inflows, totaling $2.87 million, primarily driven by Grayscale’s Ethereum Mini Trust.

Howev