Net Inflows into Spot BTC ETFs Exceeds $4 Billion
According to James Butterfill, Head of Research at CoinShares, the total net inflows into newly approved US spot Bitcoin exchange-traded funds (ETFs) have reached $4 billion as of Tuesday.
Butterfill also shared that Tuesday marked the largest net inflows of $651 million since the first day of trading on January 11, as confirmed in a post on X.com.
These spot Bitcoin ETFs were approved from various entities, including Bitwise, Grayscale, Hashdex, BlackRock, Valkyrie, BZX, Invesco, VanEck, WisdomTree, Fidelity, and Franklin, and began trading on January 11, 2024.
The latest CoinShares report also mentioned that the net inflows into these US spot Bitcoin ETF products have surpassed the total issuance of Bitcoin in their initial month of operation.
As the upcoming quadrennial halving of Bitcoin approaches, the annual inflation rate will decrease to 1%.
