BTC Spot Exchange Traded Funds (ETFs) experienced a significant surge in net inflows on May 31, according to on-chain data platform SoSoValue. The data revealed that BTC spot ETFs gained a cumulative net inflow of up to $48.738 million, indicating a strong demand for Bitcoin in the market.
This trend of net inflows in BTC spot ETFs has continued for 14 consecutive days until May 31. SoSoValue also provided insights into the individual positions of various BTC ETFs. BlackRock’s IBIT ETF stood out with an inflow of approximately $169 million, surpassing Grayscale Bitcoin Trust ETF in terms of net flow.
Contrarily, Grayscale Bitcoin Trust ETF experienced a substantial outflow of nearly $124 million during the same period. Fidelity’s ETF, on the other hand, saw some inflows of around $5.9047 million.
Based on this data, it is evident that BlackRock’s IBIT ETF has emerged as the top-ranked BTC fund, outperforming Grayscale’s ETF. The resilient demand for Bitcoin showcased by the net inflows in BTC spot ETFs highlights the continued interest of investors in the cryptocurrency.