Bitcoin Spot ETFs Register $217M Net Inflows On Monday

Murtuza Merchant

May 07, 2024

Bitcoin (CRYPTO: BTC) spot exchange-traded funds (ETFs) continue to attract significant investor interest, despite ongoing delays from the Securities and Exchange Commission (SEC) on approving Ethereum spot ETFs.

What Happened: Data from SoSoValues reveals that total net inflows into Bitcoin spot ETFs on May 6 reached $217 million.

This positive sentiment was driven by individual inflows into various Bitcoin spot ETF products.

Grayscale’s (OTC:GBTC), recorded an inflow of $3.937 million, while Fidelity‘s (BATS:FBTC) ETF saw a more considerable inflow of $99.1936 million.

Notably, the joint ETF from Ark Invest and 21Shares, (BATS:ARKB), also reported impressive inflows totaling $75.6412 million in just a single day.

These figures highlight the increasing trust and interest from both retail and institutional investors towards Bitcoin as a digital asset.

Why It Matters: Concurrently, the regulatory landscape continues to evolve, with the U.S. Securities and Exchange Commission (SEC) delaying its decision on the Invesco Galaxy's Ethereum spot ETF to July 5, 2024.

The SEC has exhibited similar caution with other proposals, extending timelines for major financial entities like Grayscale, Franklin Templeton, VanEck, and BlackRock.

Also Read: Only 10% Of Stablecoin Transaction Volumes In April Originated From ‘Organic Payments Activity’

These postponements reflect the regulatory challenges and scrutiny digital assets face even as they gain mainstream traction.

In contrast to the robust U.S. market, the trading volumes for Bitcoin and Ethereum spot ETFs in Hong Kong registered outflows.

On May 6, the total trading volume for six such ETFs amounted to just $7.72 million, dwarfed by the $1.88 billion traded across 11 Bitcoin spot ETFs in the United States the previous day.

This disparity underscores the United States’ dominance in the cryptocurrency ETF market, accounting for a trading volume 268 times that of Hong Kong.

What’s Next: As the digital asset sector continues to mature, events like Benzinga’s Future of Digital Assets on Nov. 19 provide critical platforms for dialogue and insight.

Read Next: Why Solana Has Been ‘An Almost Obvious Play,’ According To This Crypto VC

Image: Shutterstock

Recommended

The Bible Reveals Incoming Attack on America - Ad

Gold at $2,600... But This Stock Gives You More for Under $20 - Ad

America Can't Afford a Harris Presidency - Ad

Popular

Boeing workers will vote on a new contract offer to end 7-week-old strike

SEATTLE (AP) — The union representing striking Boeing factory workers says members will vote Monday on a new contract offer from the company that provides slightly bigger wage increases than an offer that was rejected last week.

Nuclear Energy Stocks Are Hot: Here's A List Of Tickers To Watch

Nuclear energy-related stocks have taken off following major announcements from Google and Amazon as the tech industry turns to nuclear energy to power AI data centers.

What we are heading toward has been planned for a very long time....

What we are heading toward has been planned for a very long time.... - Ad

A World War III used to reset pretty much everything. All the players, including Russia and the West, are owned by the same Global cult... Unfortunately, there doesn't appear to be any real opposition to those who appear to be in control. These 5 steps can help you prepare for America's incoming punishment.

PepsiCo is closing 4 bottling plants and cutting nearly 400 jobs as it streamlines operations

PepsiCo said Wednesday it plans to close four U.S. bottling plants and lay off nearly 400 workers as part of its efforts to streamline its operations.

A failed mic leaves Donald Trump pacing the stage in silence for nearly 20 minutes

DETROIT (AP) — paced his rally stage in silence for nearly 20 minutes Friday night in Detroit after his microphone cut out.

New Token Poised for Breakout as "Defi 2.0" Takes Off

New Token Poised for Breakout as "Defi 2.0" Takes Off - Ad

Revealed: The #1 DeFi Coin Driving Financial Revolution. Experts hail this as the cornerstone of the new decentralized finance era. While Bitcoin dominates headlines, this governance token is quietly reshaping lending markets. Experts suggest accumulating before institutional money flows in.

Brazil reaches $23 billion settlement with mining firms over 2015 environmental disaster

SAO PAULO (AP) — federal government on Friday reached a multibillion-dollar settlement with the mining companies responsible for a 2015 dam collapse that the government said was the country's

Researchers say an AI-powered transcription tool used in hospitals invents things no one ever said

SAN FRANCISCO (AP) — Tech behemoth OpenAI has touted its artificial intelligence-powered transcription tool Whisper as having near “human level robustness and accuracy.”

The 2024 Altcoin Eruption Is Almost Here (Get in by Nov. 4)

The 2024 Altcoin Eruption Is Almost Here (Get in by Nov. 4) - Ad

In late 2020, Ian King urged his readers to take advantage of a rare altcoin eruption event with the chance to experience gains as high as a potentially life-changing 18,325% over the next 12 months. Today, Ian is releasing a new, surprise prediction. He says 3 specific "alt" coins will ride Bitcoin's final bull run, and the potential gains could be spectacular... if you get in before November 4th.

Recreational marijuana home delivery to begin in Arizona

PHOENIX (AP) — Arizona residents will be able to get recreational cannabis delivered to their homes beginning Friday, marking a new milestone for a state program that until now had allowed the service only for medical marijuana patients.

Shytoshi Kusama Touts Shiba Inu Lifetime Gains Of 33774726%: 'We Still Have Far To Go And Much Work To Be Done'

Shytoshi Kusama, the mysterious lead of the Shiba Inu (CRYPTO: SHIB) ecosystem, highlighted the coin’s impressive growth since its launch and the work ahead to gain further recognition.

10X More Profitable Than Physical Gold?

10X More Profitable Than Physical Gold? - Ad

There's a backdoor gold play that could deliver 10 TIMES bigger gains than physical gold. In fact, this single investment has outperformed gold by 10-to-1 over the past 25 years... and FAR outperformed most gold stocks

Joe Rogan Refutes Rumors Of YouTube 'Censoring' Trump Podcast Episode: 'It Should Be Fine Now'

Popular podcast host Joe Rogan has put to rest speculations that YouTube had suppressed an episode featuring former President Donald Trump.

Colorado accidentally put voting system passwords online, but officials say election is secure

DENVER (AP) — Voting system passwords were mistakenly put on the Colorado Secretary of State's website before being spotted and taken down, but the lapse did not pose an immediate threat to the , said state election officials Tuesday.

Don't Tell ANYONE About This Altcoin (Until It Pops)...

Don't Tell ANYONE About This Altcoin (Until It Pops)... - Ad

Quiet now! This governance token could be the sleeping giant of the crypto world... In the next bull market, this "DeFi 2.0" powerhouse might soar 10x... 50x... perhaps even 100x.

Michelle Obama Criticizes Trump At Michigan Harris Rally: 'Why On Earth Is This Race Even Close?'

Michelle Obama stepped onto the campaign trail in Michigan, expressing her support for Kamala Harris and blasting former President Donald Trump.

Bill Gates Had A 'Very Bad Habit' That Could Have Derailed His Career

While at Harvard, Bill Gates had a bad habit he liked to show off. The habit was later fixed as it wasn't something in the business world appreciated.

The 7th Trillion Dollar Company?

The 7th Trillion Dollar Company? - Ad

There are six American companies worth over $1 trillion. Could there be a seventh soon? This company signed a massive deal with Apple until 2040 and is also involved with Nvidia, Google, and Samsung. Could this be the next trillion-dollar company? A top stock expertpicker thinks so.

Top 3 Tech Stocks You'll Regret Missing In Q4

The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down.

Colorado teen fights kidney failure after eating McDonald's Quarter Pounders

A 15-year-old high school freshman is hospitalized with severe complications of food poisoning after eating McDonald’s Quarter Pounder hamburgers three times in the weeks before was detected.

New "Living Missile" to Replace Nuclear Missiles

New "Living Missile" to Replace Nuclear Missiles - Ad

CBS News Reports: "It's an entirely new type of weapon." The New York Times Reports: "No existing defense can stop it." And one small company is building them for the Pentagon!

UK Drug Deaths Reach Historic Highs As Advocates Urge Reform, Harm Reduction Policies

UK drug-related deaths hit record highs in 2023, sparking urgent calls for policy reform and harm reduction to combat this escalating crisis.

Could Trump Be First Republican To Win Popular Vote In 20 Years? Here's What This Analyst Predicts

Donald Trump could break a two-decade Republican curse by securing the popular vote in next week's election, as per election analyst Harry Enten.

AI Market Shock Coming November 19th?

AI Market Shock Coming November 19th? - Ad

Jeff Brown predicts an AI market shift, potentially happening by November 19th, led by Bill Gates' Stargate project. Get ahead of the curve before the next AI market shock.

Apple Secures Victory In Masimo Patent Dispute With Token Damages Of $250

A Delaware jury has ruled in favor of Apple in a patent infringement case against Masimo, awarding Cupertino a symbolic $250 in damages.

Iranian Hackers Leak Stolen Emails From Trump's 2024 Campaign Ahead Of Nov. 5 Election: Report

The hacking group, identified as Mint Sandstorm or APT42, was previously indicted by the U.S. Justice Department for alleged election interference.

This 22-Year Wall Street Loophole Was Finally Exposed

This 22-Year Wall Street Loophole Was Finally Exposed - Ad

Would you like to start collecting crypto payments almost instantly? I'm talking about payments hitting your account as early as tonight. All thanks to a secret loophole off-limits to all but the Wall Street Elite for 22 years. All you need is a cell phone or laptop and as little as $50 bucks to get in on the action.

Ford CEO Jim Farley Raves About His 6-Month Experience With Xiaomi EV SU7 (Updated)

The admiration from Farley comes at a time when the U.S. is considering a ban on Chinese-made vehicles.

Wall Street Gains As Crude Tumbles, Small Caps Soar, Bitcoin Tops $68,000: What's Driving Markets Monday?

Investor sentiment turned optimistic towards risk assets early this week as plummeting oil prices, driven by Israel's decision not to target Iran's crude facilities during weekend attacks, eased concerns over an escalated Middle Eastern conflict and

Trump & Kamala's Dark End Game Exposed

Trump & Kamala's Dark End Game Exposed - Ad

The election will forever divide America... but not in the way you think it will. As the polls close, an unstoppable chain reaction could cleave the markets in two... whether you are enriched or impoverished by it depends on what you do with your money before November 5th.

Ecolab Q3 Earnings: Beats On EPS, Misses On Sales, Revises Annual EPS Forecast & More (CORRECTED)

Ecolab reported lower Q3 sales growth of 1%, missing consensus estimate. Organic sales up 4%, operating income up 17%. Revised FY24 outlook.

AST SpaceMobile Stock Is Rising After Hours: What's Going On?

AST SpaceMobile shares are trading higher in after hours Wednesday after the company announces it secured an initial contract with the Space Development Agency as a prime government contractor.

What Happens to the Crypto Market if Trump Gets Elected?

What Happens to the Crypto Market if Trump Gets Elected? - Ad

No one really knows for sure, but there's one type of investment that's totally election proof. It's called Automatic Payment Pools and you're not hedging your bets on any particular coin. Rather you're collecting a small piece of every dollar transacted. So the upside is practically unlimited.

Trump Turns Up To Serve Fries At McDonald's: 'I Could Do This All Day, I Wouldn't Mind This Job"

Former President Donald Trump was seen serving customers at a McDonald’s Corp. (NYSE:MCD) drive-thru in Pennsylvania on Sunday, while continuing to ridicule Vice President Kamala Harris’s past work experience at the fast-food chain.

Top 2 Materials Stocks You May Want To Dump In October

Two stocks in the materials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

Silicon Valley Insider Reveals AI Retirement Playbook

Silicon Valley Insider Reveals AI Retirement Playbook - Ad

Jeff Brown, who recommended Nvidia in 2016, is sharing his full blueprint to help you retire comfortably using AI investments. Follow his strategy for a secure financial future.

Google Bought YouTube For $1.65B And Now It Prints $50B In Revenue Just In 1 Year â€” Sundar Pichai Says Alphabet 'Leaning Into The Living Room Experience'

YouTube, the video platform Google acquired for $1.65 billion in 2006, has generated $50 billion in combined advertising and subscription revenue over the past four quarters, marking a milestone in its evolution from a user-generated content site to a major streaming player.

One Tech Tip: How to prepare your online accounts in case you die

LONDON (AP) — Most people have accumulated a pile of data — selfies, emails, videos and more — on their social media and digital accounts over their lifetimes. What happens to it when we die?

Elon: Tesla Is a Robotics Company Now

Elon: Tesla Is a Robotics Company Now - Ad

Elon Musk's new plan for Tesla's future has nothing to do with electric cars... TechRadar reports it "will blow your mind..." & McKinsey says it "will shape the coming decade." We recently got our hands on a video clip detailing this breakthrough.

Voters in Liechtenstein withdraw state funding from the country's public radio broadcaster

BERLIN (AP) — Voters in Liechtenstein have voted to withdraw state funding from the tiny country's public radio broadcaster, a decision that leaves the station's future in doubt.

Trending Now