On May 22, net inflows into spot exchange-traded funds (ETFs) based on the leading cryptocurrency reached $153.9 million, marking an eighth consecutive day of positive momentum.
BlackRock’s IBIT attracted the largest volume at $92 million, followed by Fidelity’s FBTC with $75 million.
ARK Invest and 21Shares’ ARKB accumulated $3 million, while Grayscale’s GBTC experienced a significant outflow of $16 million.
Seven other funds recorded zero inflows.
In terms of total assets, BlackRock’s fund ($19.7 billion) is closing in on Grayscale ($20.1 billion).
The continued positive trend is likely linked to the US House of Representatives’ passage of the FIT21 Act, which affirms the regulatory authority of the SEC and CFTC over digital assets.
In Hong Kong, interest in Bitcoin ETFs is less robust. In recent days, local products have seen zero inflows. On May 17 and 20, funds attracted 93 BTC and 99 BTC, respectively, but lost 200 BTC on May 16.
A similar situation is observed with spot Ethereum funds. On May 22, there was an inflow of 62.8 ETH, but prior to this, the instruments mostly recorded zero or negative dynamics.
The market is awaiting the SEC’s decision on spot ETH-ETFs. On May 20, media reported that the agency requested potential issuers to update Form 19b-4 in their fund launch applications.
May 23 marks the deadline for requests from VanEck and Grayscale.