GBTC - BlackRock Fidelity Lead $257M Bitcoin ETF Surge As Analysis Predicts $74000 Comeback | Benzinga
The demand for Bitcoin (CRYPTO: BTC) exposure among U.S. investors continues to rise, with spot Bitcoin ETFs recording a fourth consecutive day of inflows on May 16.
What Happened: The total net inflow for the day reached $257.34 million, suggesting growing institutional interest in the leading cryptocurrency, according to data from SoSo value.
BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) led the surge with a net inflow of $93.70 million, followed by Fidelity’s Wise Origin Bitcoin Trust (BATS:FBTC) at $67.08 million.
Notably, Grayscale’s Bitcoin Investment Trust (OTC:GBTC), the world’s largest Bitcoin fund, saw a more modest inflow of $4.64 million.
This bullish sentiment comes despite warnings from JPMorgan analysts who, ...