{"id":80471,"date":"2024-06-06T06:51:03","date_gmt":"2024-06-06T10:51:03","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=80471"},"modified":"2024-06-06T06:51:06","modified_gmt":"2024-06-06T10:51:06","slug":"us-bitcoin-etfs-inflow-nears-500m-amid-lower-search-volume","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/us-bitcoin-etfs-inflow-nears-500m-amid-lower-search-volume\/","title":{"rendered":"US Bitcoin ETFs Inflow Nears $500M Amid Lower Search Volume"},"content":{"rendered":"\n

On June 5, bitcoin exchange-traded funds<\/a> (ETFs) in the US experienced an inflow of $488.1 million. However, Google data indicates a significantly lower volume of search.<\/p>\n\n\n\n

\"US
US Bitcoin ETFs Inflow Nears $500M Amid Lower Search Volume<\/figcaption><\/figure>\n\n\n\n

On June 4, the ETFs experienced their second-highest inflow day, totaling $886.6 million. Farside Investors data indicates that the Fidelity Wise Origin Bitcoin Fund (FBTC) accounted for the largest share of inflows at $220.6 million, with the following day's performance approximately half that amount.<\/p>\n\n\n\n

The Grayscale Bitcoin Trust <\/a>(GBTC), which has experienced net outflows exceeding $17.8 billion since January, experienced a $14.6 million net inflow, while BlackRock's iShares Bitcoin Trust (IBIT) was second with $155.4 million.<\/p>\n\n\n\n

\"Spot
Spot Bitcoin ETF flows for June 5 are highlighted in green. Source: Farside Investors<\/figcaption><\/figure>\n\n\n\n

In contrast to 2021, Google Trends data indicates that a negligible number of Americans are undertaking searches related to Bitcoin, Bitcoin ETFs, its price, or crypto in general, despite the substantial inflows and a Bitcoin rally that exceeded $71,000.<\/p>\n\n\n\n

Google Trends data, which assigns a value out of 100 based on the relative peak prevalence of search interest, provided a score of 31 for searches for “Bitcoin” that originated from the United States on June 5, while “Bitcoin ETF” received a score of 1.<\/p>\n\n\n\n

\"U.S.-originated
U.S.-originated search volumes for various Bitcoin and crypto-related Google searches since 2020. since Source: Google Trends\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/figcaption><\/figure>\n\n\n\n

While other searches, such as “Bitcoin price” and “crypto,” have achieved a higher index score of 18 and 13, respectively, they remain significantly lower than those achieved during the retail-driven bull run of 2021.<\/p>\n\n\n\n

The interest in crypto-related search terms had decreased over the past year, with a general increase in interest on January 11 (the day the U.S. approved ten spot Bitcoin ETFs) and March 5, when Bitcoin broke above $69,000 for the first time since 2021.<\/p>\n\n\n\n

The pinnacle of search interest for “Bitcoin” occurred in May 2021. It crossed the $50,000 threshold for the first time a few weeks prior and would reach its all-time peak of nearly $69,000 in November 2021.<\/p>\n\n\n\n

Additionally, Miles Deutscher, a crypto analyst, disclosed data in a June 6 X post that indicated the viewership of crypto-related YouTube channels<\/a> had declined substantially from 2021, despite Bitcoin having already transcended its peak price at that time.<\/p>\n\n\n\n

The daily viewership of crypto YouTube has decreased from approximately 4 million views in 2021, when Bitcoin reached its then-peak, to approximately 800,000 in 2024, despite BTC reaching new highs.<\/p>\n\n\n\n

Deutscher asserted that retail has yet to recover. “There is no other indicator in the world that more accurately represents the current state of the market than crypto [YouTube] views.”<\/p>\n","protected":false},"excerpt":{"rendered":"

On June 5, bitcoin exchange-traded funds (ETFs) in the US experienced an inflow of $488.1 million. However, Google data indicates a significantly lower volume of search. On June 4, the ETFs experienced their second-highest inflow day, totaling $886.6 million. Farside Investors data indicates that the Fidelity Wise Origin Bitcoin Fund (FBTC) accounted for the largest […]<\/p>\n","protected":false},"author":1,"featured_media":43118,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[6746,17690,1613],"class_list":["post-80471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-etf-3","tag-google-trends","tag-bitcoin-etf"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/12\/image-112.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/80471","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=80471"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/80471\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/43118"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=80471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=80471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=80471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}