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.
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