{"id":303840,"date":"2024-05-17T11:15:15","date_gmt":"2024-05-17T05:45:15","guid":{"rendered":"https:\/\/dripp.zone\/news\/u-s-spot-bitcoin-etfs-bought-5-times-the-btc-mined-this-week-crypto-news\/"},"modified":"2024-05-17T11:20:35","modified_gmt":"2024-05-17T05:50:35","slug":"u-s-spot-bitcoin-etfs-bought-5-times-the-btc-mined-this-week-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/u-s-spot-bitcoin-etfs-bought-5-times-the-btc-mined-this-week-crypto-news\/","title":{"rendered":"U.S. Spot Bitcoin ETFs Bought 5 Times the BTC Mined This Week &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/bitcoin-etf-trading-volumes-see-sharp-surge-gbtc-clocks-27-million-in-inflows\/\">U.S. spot Bitcoin ETFs<\/a> are once again in the limelight amid soaring trading volumes reported this week. On Thursday, May 16, the spot Bitcoin ETF registered $257 million worth of net inflows, with GBTC recording inflows for the second consecutive day.<\/p>\n<h3>Bitcoin ETF Inflows Bounce Back This Week<\/h3>\n<p>After seeing some major outflows last week, the U.S. Bitcoin ETFs have bounced back strongly with over $657 million in inflows till Thursday. As per the on-chain data, the BTC ETFs have scooped a total of 11,188 Bitcoins which is nearly five times the Bitcoins mined.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p>https:\/\/x.com\/HODL15Capital\/status\/1791305879444173265<\/p>\n<p>As of May 16, US Bitcoin spot ETFs witnessed a total net inflow of $257 million. Grayscale\u2019s ETF GBTC experienced a notable single-day net inflow of $4.6382 million. Additionally, BlackRock\u2019s ETF IBIT recorded a net inflow of $93.7004 million, while Fidelity\u2019s ETF FBTC saw a net inflow of $67.0829 million within the same timeframe.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p>As we have seen over the last week, some of the big market players in traditional finance have been declaring their exposure to Bitcoin ETFs. This shows that <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/bitcoin-etf-to-grab-5b-aum-from-over-700-institutional-investors-bitwise-cio\/\">institutional participation in Bitcoin ETF<\/a> is strong and likely to continue going ahead. As per the data from Bitwise asset management, more than 700 institutional investors are likely to seek exposure to these Bitcoin funds.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<h3>Hong Kong Bitcoin ETFs Have Lackluster Performance<\/h3>\n<p>The initial excitement surrounding <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/hong-kong-bitcoin-and-ether-etfs-see-record-net-outflows-since-launch\/\">Hong Kong\u2019s first exchange-traded funds (ETFs)<\/a> investing directly in cryptocurrency has fallen short compared to their US counterparts. Data from Bloomberg reveals that the total assets of the six Bitcoin and Ether ETFs have decreased by approximately $25 million from the initial $293 million gathered at their debut two weeks ago, indicating investor outflows.<\/p>\n<figure id=\"attachment_197364\" aria-describedby=\"caption-attachment-197364\" style=\"width: 620px\" class=\"wp-caption aligncenter\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-197364\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/Hong-Kong-Bitcoin-ETF-Outflows.jpg\" alt=\"\" width=\"620\" height=\"349\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/Hong-Kong-Bitcoin-ETF-Outflows.jpg 620w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/Hong-Kong-Bitcoin-ETF-Outflows-300x169.jpg 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/Hong-Kong-Bitcoin-ETF-Outflows-150x84.jpg 150w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\"\/><\/noscript><figcaption id=\"caption-attachment-197364\" class=\"wp-caption-text\">Courtesy: Bloomberg<\/figcaption><\/figure>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p>Le Shi, head of trading at market-making and algorithmic trading firm Auros, described the response to the Hong Kong launches as \u201clukewarm\u201d so far. Speaking to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-16\/hong-kong-s-shaky-crypto-etf-debuts-dent-global-hub-aspirations\">Bloomberg<\/a>, he added:<\/p>\n<blockquote>\n<p>\u201cFirstly, they got beaten to the punch by the US. Secondly, there\u2019s ongoing uncertainty about China\u2019s intentions with regards to crypto, which is causing potential investors to tread carefully, or avoid the jurisdiction altogether.\u201d<\/p>\n<\/blockquote>\n<p>Bloomberg Intelligence ETF Analyst Rebecca Sin highlighted some positives from the launches, noting that total assets have already surpassed $250 million. Sin anticipates that more issuers will \u201cjoin the race\u201d as the ecosystem evolves, predicting that these portfolios could accumulate $1 billion within two years.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p>                                <!-- \n\n<div class=\"desktopPostEnd d-on\"><\/div>\n\n --><\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/u-s-spot-bitcoin-etfs-bought-5-times-the-btc-mined-this-week\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/u-s-spot-bitcoin-etfs-bought-5-times-the-btc-mined-this-week\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/?utm_source=priceanalysisbar&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA197358\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. 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In free time he reads thriller fictions novels and sometimes explore his culinary skills.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD197358\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p><!-- \n\n<div class=\"container p-1 mb-3  mt-4 \">\n    \n    \n     \n\n<div class=\"Maintitle clgrn border-0\">\n               <span>Crypto Stories<\/span>\n                    \n                    \n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/\" class=\"viewAll p-0\">View all<\/a>\n                <\/div>\n\n\n     \n\n<div class=\"row mobileXS \">\n                     \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/5-important-highlights-from-the-recent-fed-meeting\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-GettyImages-1556780583-bb9b6dd6fddd47e1b1453cb82cea5bb0.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"5 Important Highlights from the Recent Fed Meeting\" decoding=\"async\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-GettyImages-1556780583-bb9b6dd6fddd47e1b1453cb82cea5bb0.jpg 640w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-GettyImages-1556780583-bb9b6dd6fddd47e1b1453cb82cea5bb0-225x300.jpg 225w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-GettyImages-1556780583-bb9b6dd6fddd47e1b1453cb82cea5bb0-150x200.jpg 150w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/div>\n\n\n                \n\n<div class=\"Educontent\">5 Important Highlights from the Recent Fed Meeting <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n      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decoding=\"async\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/01\/cropped-shutterstock_1958528764_10.jpg 640w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/01\/cropped-shutterstock_1958528764_10-225x300.jpg 225w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/01\/cropped-shutterstock_1958528764_10-150x200.jpg 150w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/div>\n\n\n                \n\n<div class=\"Educontent\">5 Reasons behind Mega Bank\u2019s 2024 Ethereum Price Prediction <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n     \n                              \n          <\/div>\n\n\n    \n          \n \n    \n            \n    <\/div>\n\n        --><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. spot Bitcoin ETFs are once again in the limelight amid soaring trading volumes reported this week. On Thursday, May 16, the spot Bitcoin ETF registered $257 million worth of net inflows, with GBTC recording inflows for the second consecutive day. Bitcoin ETF Inflows Bounce Back This Week After seeing some major outflows last [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":249227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-303840","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/303840","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=303840"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/303840\/revisions"}],"predecessor-version":[{"id":303841,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/303840\/revisions\/303841"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/249227"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=303840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=303840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=303840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}