Cryptocurrency NewsARKB ETF Attracts $133 Million as Bitcoin Rises, Signaling Strong Market Confidence

ARKB ETF Attracts $133 Million as Bitcoin Rises, Signaling Strong Market Confidence

In a significant market movement, the ARK 21Shares Bitcoin Exchange-Traded Fund (ARKB) has recorded an impressive $133.1 million in net inflows, marking its highest intake since March 27. This surge in capital allocation aligns closely with a key uptick in Bitcoin’s value, affirming investor confidence in the cryptocurrency sector.

Farside Investors reports that overall, U.S. Bitcoin ETFs saw $100.5 million in net inflows on May 14, indicating a robust week of investment activity. Conversely, the Grayscale Bitcoin Trust (GBTC) experienced a net outflow of $50.9 million, contrasting sharply with the inflows seen in other funds.

Notably, the ARKB ETF has consistently attracted substantial capital, with inflows surpassing the $100 million mark seven times previously. The fund reached its peak with a record $200.7 million inflow on March 27, and its most considerable outflow of $98.1 million occurred shortly afterward on May 1.

Other funds like BlackRock’s iShares Bitcoin Trust (IBIT) have not mirrored this trend, with no new inflows for two consecutive days. Meanwhile, the Fidelity Wise Origin Bitcoin Fund (FBTC) added $8.1 million in net inflows, bolstered by a strong performance the previous day with $38.6 million, leading the U.S. BTC ETF market.

Additional smaller-scale inflows were noted in ETFs such as BTCO, EZBC, BRRR, and HODL, which reported $5.5 million, $1.8 million, $1.2 million, and $1.7 million respectively.

The cumulative net inflows into the BTC ETF market are nearing a milestone, approaching $12 billion, currently standing at $11.84 billion. This growth trajectory coincides with Bitcoin’s recent price increase, which saw a 0.5% rise over the past 24 hours, with the cryptocurrency trading at $62,150.

This data not only highlights the dynamic nature of the cryptocurrency investment landscape but also signals a continued investor interest amid fluctuating market conditions.

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