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Spot Bitcoin ETFs Gain Traction: BlackRock, Fidelity Lead Inflows, While Thailand Approves First Fund

Arslan Butt•Tuesday, June 4, 2024•1 min read

Spot Bitcoin ETFs are rapidly gaining ground, with major issuers like BlackRock and Fidelity seeing significant inflows into their respective products.

TL;DR

• Spot Bitcoin ETFs are attracting significant investor interest, offering a secure and regulated way to gain exposure to Bitcoin.
• Major financial institutions are increasingly entering the Bitcoin ETF space, reflecting growing confidence in the asset class.
• The global trend of Bitcoin ETF approvals is opening up new avenues for investors worldwide.

BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) have attracted a substantial portion of their total ETF inflows this year, at 26% and 56% respectively. IBIT recently surpassed Grayscale’s Bitcoin Trust (GBTC) as the world’s largest spot Bitcoin ETF, highlighting a shift in investor preference.

Thailand Joins the Fray

Thailand’s SEC greenlit the launch of the country’s first Bitcoin ETF, offered by One Asset Management (ONEAM). This ETF caters to institutional investors and prioritizes secure storage through investments in leading global Bitcoin funds.

Australia Gets its First Direct-Hold Bitcoin ETF

Monochrome Asset Management launched Australia’s first spot Bitcoin ETF, IBTC, which directly holds Bitcoin. This development fills a gap in the Australian market, offering investors a product with direct exposure to Bitcoin and the benefits of local regulations.

Global Trend Towards Accessible Bitcoin Investment

The success of spot Bitcoin ETFs in the US, coupled with similar launches in Europe, indicates a growing global demand for regulated Bitcoin investment vehicles. The future of spot Bitcoin ETFs appears bright, with potential for further growth as regulatory hurdles are addressed and investor adoption increases. It will be interesting to see how these products continue to evolve and impact the broader cryptocurrency market.

ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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