Bitcoin (BTC) Exchange-traded funds (ETFs) experienced notable activity on May 28, accumulating a total of 642 BTC. According to Farside data, these ETFs recorded $45 million in inflows, with seven out of eleven ETFs reporting positive inflows, indicating a strong interest among investors and issuers.

Leading the charge was BlackRock’s IBIT ETF, which saw an impressive $102.5 million in inflows, bringing its total net inflow to a staggering $16.5 billion. This influx of funds has propelled IBIT to surpass Grayscale’s GBTC ETF in terms of Bitcoin holdings, establishing IBIT as the largest Bitcoin ETF in the United States. HeyApollo data reveals that IBIT now holds 288,670 BTC, compared to GBTC's 287,450 BTC.

Fidelity’s FBTC ETF also posted significant gains, with $34.3 million in inflows, increasing its total net inflow to $8.7 billion. In contrast, Grayscale’s GBTC ETF faced a substantial $105.2 million outflow, raising its total net outflows to $17.7 billion.

The cumulative net inflows across all Bitcoin ETFs have now reached $13.7 billion, underscoring the growing investor confidence in these financial instruments. The data reflects a broad-based interest in Bitcoin ETFs, with most funds seeing positive movement.

Key Highlights:

- BlackRock’s IBIT ETF: Achieved the highest inflows at $102.5 million, increasing its net inflows to $16.5 billion and overtaking Grayscale’s GBTC as the largest US Bitcoin ETF with 288,670 BTC.
- Fidelity’s FBTC ETF: Recorded $34.3 million in inflows, bringing its total to $8.7 billion.
- Grayscale’s GBTC ETF: Experienced significant outflows amounting to $105.2 million, increasing its total net outflows to $17.7 billion.
- Overall Market: The total net inflows for Bitcoin ETFs reached $13.7 billion, highlighting strong investor interest.

The net accumulation of 642 BTC by Bitcoin ETFs on May 28 indicates a continued positive sentiment towards Bitcoin investments through these vehicles. This trend suggests that despite fluctuations in individual fund performances, the overall market for Bitcoin ETFs remains robust and appealing to investors.