The 11 spot bitcoin exchange-traded funds in the U.S. saw $294.9 million in net inflows on Monday, recording the largest sum of fund intake since June 5.
BlackRock's IBIT, the largest spot bitcoin fund in terms of net asset value, led inflows on Monday with $187.21 million, followed by $61.54 million net inflows from Fidelity's FBTC, according to data from SoSoValue. Grayscale's GBTC, the second largest bitcoin ETF, reported net inflows of $25 million.
Bitwise's BITB recorded net inflows of $11 million, and Ark Invest and 21Shares' ARKB saw inflows of $8.44 million. VanEck's HODL fund also recorded $1.6 million worth of net inflows.
A total of $1.98 billion worth of value was traded on the 11 spot bitcoin funds on Monday. The ETFs have accumulated a total net inflow of $15 billion since their January inception.
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Meanwhile, bitcoin price rose 3.8% in the past 24 hours to change hands at $57,150, according to The Block's bitcoin price page. The cryptocurrency fell to lows of around $54,000 last week as defunct crypto exchange Mt Gox started moving its bitcoin for its $9 billion payout.
In related ETF news, Cboe BZX exchange filed 19b-4 forms for proposed Solana ETFs from VanEck and 21Shares on Monday. The exchange said in filings to the U.S. Securities and Exchange Commission that Solana, similar to bitcoin and ether, is resistant to price manipulation. U.S. issuers are currently waiting for the final approval from the SEC to launch the country's first line of spot ether ETFs.
About Author
Danny Park is an East Asia reporter at The Block writing on topics including Web3 developments and crypto regulations in the region. He was formerly a reporter at Forkast.News, where he actively covered the downfall of Terra-Luna and FTX. Based in Seoul, Danny has previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor of Journalism and Business Marketing from the University of Hong Kong.