Spot bitcoin exchange-traded funds in the United States returned to a daily net inflow of over $100 million yesterday as inflows into the ARK 21 Shares Bitcoin BTC -0.11% ETF (ARKB) overpowered the usual outflows from the Grayscale Bitcoin Trust.
According to data from SoSo Value, approximately $133 million flowed into ARKB, bringing its cumulative net inflow to $2 billion. Conversely, GBTC witnessed another $51 million flow out of the product, bringing its cumulative net outflows to $18 billion.
The Fidelity Wise Origin Bitcoin Fund, Invesco Galaxy Bitcoin ETF, VanEck Bitcoin Trust, Valkyrie Bitcoin Fund and Franklin Bitcoin ETF also all saw net inflows, while the rest — including BlackRock's iShares Bitcoin Trust — recorded no net inflows.
To date, roughly $11.84 billion in cumulative net inflows have entered the U.S.-listed spot bitcoin ETFs.
However, spot bitcoin ETF volumes have continually and steadily declined since peaking on March 5, as evidenced by The Block's Data Dashboard.
In related news, former Blackrock Bitcoin ETF lead Salim Ramji has joined Vanguard — which had historically taken an inactive approach to bitcoin ETFs — as its new CEO.
Additionally, the State of Wisconsin's Investment Board disclosed that it holds roughly $163 million in spot bitcoin ETFs.