U.S. spot bitcoin ETFs are on a winning streak, with $107.91 million in inflows on Thursday, marking their 9th consecutive day of gains. This is the longest inflow streak since mid-March. The success of spot bitcoin ETFs since their launch earlier this year is evident. The first spot bitcoin ETFs were approved by the SEC in January, and products from major players like BlackRock, Fidelity, and others quickly amassed billions in assets.
On Thursday, BlackRock’s iShares Bitcoin Trust (IBIT) led inflows with $89 million. Fidelity’s Wise Origin Bitcoin Trust (FBTC) followed with $19 million, and VanEck’s fund received $9.5 million in inflows. Meanwhile, the Grayscale Bitcoin Trust (GBTC) saw an outflow of $14 million, continuing its negative streak as investors move towards other spot ETFs with lower fees. BlackRock is poised to take over management of GBTC, as its IBIT has quickly become the leading spot Bitcoin ETF, nearing nearly $20 billion in assets in just 4 months.
This week, the U.K. also approved Bitcoin ETPs to be listed in London, further solidifying Bitcoin as an institutional asset class. If the current trend continues, Bitcoin could end May on a high note. 
U.S. spot bitcoin ETFs are on a winning streak, with $107.91 million in inflows on Thursday, marking their 9th consecutive day of gains. This is the longest inflow streak since mid-March. The success of spot bitcoin ETFs since their launch earlier this year is evident. The first spot bitcoin ETFs were approved by the SEC in January, and products from major players like BlackRock, Fidelity, and others quickly amassed billions in assets.
On Thursday, BlackRock’s iShares Bitcoin Trust (IBIT) led inflows with $89 million. Fidelity’s Wise Origin Bitcoin Trust (FBTC) followed with $19 million, and VanEck’s fund received $9.5 million in inflows. Meanwhile, the Grayscale Bitcoin Trust (GBTC) saw an outflow of $14 million, continuing its negative streak as investors move towards other spot ETFs with lower fees. BlackRock is poised to take over management of GBTC, as its IBIT has quickly become the leading spot Bitcoin ETF, nearing nearly $20 billion in assets in just 4 months.
This week, the U.K. also approved Bitcoin ETPs to be listed in London, further solidifying Bitcoin as an institutional asset class. If the current trend continues, Bitcoin could end May on a high note.
