Spot Bitcoin ETFs See $100M Inflows On Wednesday Amid Institutional Adoption

Murtuza Merchant

May 15, 2024

Bitcoin spot exchange-traded funds (ETFs) continued to attract investor interest on May 14, with total net inflows into these funds reached $100.5 million, highlighting ongoing demand for direct exposure to Bitcoin (CRYPTO: BTC).

What Happened: This positive inflow comes despite a single-day net outflow of $50.93 million from Grayscale‘s industry-leading Bitcoin Investment Trust (OTC:GBTC), according to data from SoSoValue.

However, this outflow was offset by a significant net inflow of $133 million into Ark Invest and 21Shares‘ (BATS:ARKB) ETF. The total net asset value of all Bitcoin spot ETFs currently sits at $50.987 billion.

Institutional Interest On The Rise

The growing popularity of Bitcoin spot ETFs is further bolstered by recent SEC filings revealing the Wisconsin Investment Commission’s holdings.

This influential agency, established in 1951 to manage Wisconsin’s public pension and trust funds, currently holds $99 million in BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT).

This significant investment by a major state agency underscores the growing institutional interest in Bitcoin as a legitimate asset class.

Also Read: Wisconsin Invests Nearly $100M In BlackRock’s Spot Bitcoin ETF

Analyst Sees Future Inflows

Bloomberg analyst Eric Balchunas adds another layer of optimism to the Bitcoin spot ETF landscape.

While acknowledging the potential wait for larger institutions to follow suit, Balchunas highlights that the Wisconsin Investment Commission also holds $64 million in Grayscale GBTC.

This diversification strategy suggests a broader institutional embrace of Bitcoin exposure, potentially leading to a wave of new entrants in the near future.

Looking Ahead: Benzinga’s Future Of Digital Assets Event

With institutional adoption on the rise and investor appetite for Bitcoin spot ETFs remaining strong, the future of digital assets appears bright. For those seeking deeper insights into this evolving market, Benzinga’s Future of Digital Assets event, taking place on Nov. 19.

Read Next: Dutch Court Sentences Tornado Cash Developer To 64 Months For Money Laundering

Image: Shutterstock

Recommended

Elon's $25 Trillion Confession - Ad

Trump Triggered 70% Gains Overnight -- This Rare Earths Stock Could Be Next - Ad

Legally "Skim" $6,361 Into Your Account? - Ad

Popular

December Social Security Payments Might Come Early — But There's a Catch

The Social Security Administration is altering its payment schedule for December.

Apple pulls two gay dating apps in China under government order

BANGKOK (AP) — Apple said it has pulled two of China’s biggest gay dating apps, Blued and Finka, under pressure from Chinese authorities, in the latest sign of a tightening grip on the LGBTQ+ community.

The Market Just Crossed a Dangerous Line

The Market Just Crossed a Dangerous Line - Ad

The man who predicted the 2008 crash and 2020 says today's soaring markets are NOT a bubble - they're something far stranger and more dangerous. He says it's about to change everything you know about money.

Trump Has Some Tough Words For Marjorie Taylor Greene After Promising To 'Do Everything' He Can To Help Make Syria 'Successful'

Trump vows to make Syria successful after meeting with former al Qaeda commander, amid extended sanctions relief and GOP criticism.

Indigenous groups get the spotlight at UN climate talks, but some say visibility isn't power

BELEM, Brazil (AP) — Indigenous people are used to adapting, so when the power failed at their kickoff event at this year's , they rolled with it. Participants from around the world sweated through song, dance and prayers, improvising without microphones and cooling themselves with fans made of paper or leaves.

Weiss Gold Veteran Makes Shocking New Call

Weiss Gold Veteran Makes Shocking New Call - Ad

Weiss expert Sean Brodrick went out on a limb last year and declared a historic event would send the yellow metal to $3,150. People laughed at him at the time, but he was off by just two days. Now, Sean has a shocking new prediction for gold ... and reveals a little-known way to get ahead of this bull market.

Paramount Skydance Stock Climbs After Q3 Report: Here's Why

Here's a look at the Q3 earnings report from Paramount Skydance.

Chuck Schumer Says 41-Day Shutdown Has Exposed Trump's 'Cruelty,' Accuses President Of Holding Innocent Kids, Veterans As 'Political Hostages'

Schumer condemns Trump's 'cruelty' behind longest shutdown in U.S. history, as thousands of Americans suffer from furloughs and disrupted services.

Buffett, Gates and Bezos Dumping Stocks

Buffett, Gates and Bezos Dumping Stocks - Ad

The world's wealthiest individuals are making huge moves with their money. Warren Buffett just liquidated billions of shares. Bill Gates sold 500,000 shares of Microsoft. Jeff Bezos filed to sell Amazon shares worth $4.8 billion. What is going on? One multi-millionaire believes they are preparing for a catastrophic event. But not a crash, bank run, or recession. It's something we haven't see in America for more than a century.

Movie Review: Time has outrun this 'Running Man'

It’s always interesting when time overtakes the dystopias of the past. In 1982 novel “The Running Man,” the United States has fallen into a totalitarian state, divided between haves and have-nots, where all movements can be surveilled and realistic video propaganda is easily generated. King’s book was set in the year 2025.

Kevin O'Leary Slams Trump's $2,000 Tariff Rebate Checks: 'Everyone Loves The Idea Of A Free Check'

Investor Kevin O'Leary calls Trump's tariff rebate checks out on X, saying it is a "quick band-aid" in a tough economy.

This Company Could Challenge NVIDIA's Reign

This Company Could Challenge NVIDIA's Reign - Ad

This new chip can run at the speed of light and it's changing the game. "TF3" could replace silicon entirely and one American company is producing it commercially. Clients already include NASA and top medical research institutions. It's still under the radar - and that's the opportunity.

US Senate Discloses Landmark Crypto Market Structure Bill, Eyes Passage By Late 2025

Bitcoin (CRYPTO: BTC) is holding steady near $105,000 as markets digest the Senate's long-awaited crypto market structure bill draft, a major milestone toward regulatory clarity

Shutdown to leave mark on US economy from lost paychecks, canceled flights

WASHINGTON (AP) — The longest federal government shutdown in U.S. history appears to be nearing an end, but not without leaving a mark on an already-struggling economy.

Investing Legend Hints the End May Be Near for These 3 Iconic Stocks

Investing Legend Hints the End May Be Near for These 3 Iconic Stocks - Ad

Futurist Eric Fry say Amazon, Tesla and Nvidia are all on the verge of major disruption. To help protect anyone with money invested in them, he's sharing three exciting stocks to replace them with. He gives away the names and tickers completely free in his brand-new "Sell This, Buy That" broadcast.

China's car sales slow in October as some trade-in subsidies, tax breaks are phased out

BANGKOK (AP) — China's passenger car sales slowed in October, even for electric vehicle makers BYD and Tesla, as automakers cut prices to compete in an overcrowded market, an industry association said Tuesday.

Barrick's Breakup Rumors, North America Versus The World

Barrick Mining (NYSE: B) may split into two companies, one focused on North America and another on Africa and Asia.

Bitcoin's Pullback Could Be Your Gain

Bitcoin's Pullback Could Be Your Gain - Ad

More than 70 cryptos have recently outperformed Bitcoin and it's not the first time. During crypto's last bull market the top 100 coins NOT named Bitcoin went up by 174%. Now the signs show that it's happening again. This could be a chance to strike gold in some far corners of the crypto market.

What's Going On With Papa John's (PZZA) Stock Today? (UPDATED)

Shares of Papa John's International, Inc. (NASDAQ: PZZA) moved higher on Monday. Here's what you need to know.

Everyday volunteers are providing stopgap services during the shutdown in a show of community power

NEW YORK (AP) — It started with a late October meeting between a lifestyle entrepreneur, a marketing professional, a restaurant owner and a social worker at a brewery in the Florida panhandle. Within hours, Pensacola Grocery Buddies was born.

Trump Signs Law to Launch Dollar 2.0

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Dogecoin Fakes A Rally Then Dumps 3%—But Why?

Dogecoin (CRYPTO: DOGE) fell close to 3% on Tuesday, as large holders shifted roughly $32 million worth of DOGE to exchanges, putting sellers back in control.

Yemen's Houthi rebels signal that they've stopped attacks on Israel and Red Sea shipping

DUBAI, United Arab Emirates (AP) — Yemen’s Houthi rebels are signaling they’ve stopped their as a holds in the Gaza Strip.

Elon's $25 Trillion Confession

Elon's $25 Trillion Confession - Ad

Elon Musk: "Tesla will become a $25 trillion company." That would make Tesla 8x bigger than Apple today. How is that possible? He admits it's all thanks to this one AI breakthrough that will take AI out of our computer screens and manifest a 250x boom here in the real world.

Trump attacks ABC News correspondent Mary Bruce in angry response to three sharp questions

NEW YORK (AP) — President Donald Trump denounced ABC News' Mary Bruce as a “terrible reporter” Tuesday and threatened the network's license to broadcast after she asked him three sharp questions at the White House.

These are the 37 donors helping pay for Trump's $300 million White House ballroom

WASHINGTON (AP) — President Donald Trump says his $300 million White House ballroom will be paid for “100% by me and some friends of mine.”

Trump Triggered 70% Gains Overnight -- This Rare Earths Stock Could Be Next

Trump Triggered 70% Gains Overnight -- This Rare Earths Stock Could Be Next - Ad

Trump's turning tiny mining stocks into overnight fortunes... and this little-known rare earths miner could be his next billion-dollar BUY. If Trump cuts a deal you could see a 50% to 200% pop overnight. But you must act before the next deal hits the wire.

Joan Branson, wife of British billionaire Richard Branson, dies at 80

Joan Branson, the wife of British billionaire Richard Branson, has died at age 80.

Trump-Pardoned Ponzi Schemer Faces 37-Year Sentence For $44 Million COVID Scam

A previously convicted Ponzi schemer who had received a pardon from President Trump is heading back to prison due to involvement in a new fraudulent scheme.

Legally "Skim" $6,361 Into Your Account?

Legally "Skim" $6,361 Into Your Account? - Ad

A former hedge fund manager is now sharing his "Skim Codes" with regular people. They're not stocks. They're not crypto. They're 18-character codes designed to profit from recent market conditions. All you have to do is punch them into an ordinary brokerage account. 84% of these codes have given people the chance to generate cash payouts so far... and his next code is going out any day now.

What to know about the apartment tower fire in Hong Kong

HONG KONG (AP) — Hong Kong firefighters were making a final push to try and find any survivors from the city's , going apartment-to-apartment in the high-rise complex in an exhaustive search.

Full blackout hits the Dominican Republic as crews scramble to restore power

SANTO DOMINGO, Dominican Republic (AP) — A rare blackout hit the entire on Tuesday, snarling traffic and paralyzing businesses in the country of nearly 11 million people.

The Market Just Crossed a Dangerous Line

The Market Just Crossed a Dangerous Line - Ad

An archaeologist is racing to preserve Sudan's heritage as war threatens to erase its cultural past

PARIS (AP) — In a dimly lit office in a corner of the French National Institute for Art History, Sudanese archaeologist Shadia Abdrabo studies a photograph of pottery made in her country around 7,000 B.C. She carefully types a description of the Neolithic artifact into a spreadsheet.

California revokes 17,000 driver's licenses. But the state disputes it is over immigration concerns

California plans to revoke 17,000 commercial driver’s licenses given to immigrants after the Trump administration raised concerns about people in the country illegally receiving licenses to drive a semitruck or a bus. But Gov. Gavin Newsom said that isn't the reason.

Weiss Gold Veteran Makes Shocking New Call

Weiss Gold Veteran Makes Shocking New Call - Ad

Trump May Formally Offer Putin Control of Occupied Ukrainian Land in Proposed Peace Deal

The U.S. is reportedly prepared to formally acknowledge Russia's hold over Crimea and parts of eastern and southern Ukraine as part of a proposed agreement to end the war.

AT&T reached a $177M data breach settlement. What consumers should know about claiming their money

NEW YORK (AP) — AT&T has reached a combined $177 million settlement over two . And impacted consumers have a little over a month left to file a claim for their chunk of the money.

Buffett, Gates and Bezos Dumping Stocks

Buffett, Gates and Bezos Dumping Stocks - Ad

Wendy's to close hundreds of US stores in bid to halt falling profit

Wendy’s plans to close hundreds U.S. restaurants over the next few months in an effort to boost its profit.

Trending Now