Bitcoin ETFs experienced a significant surge in trading on May 20, marking their best trading day since early May. Fidelity's Wise Origin Bitcoin Fund saw a significant net asset increase of $188 million, while the ARK 21Shares Bitcoin ETF attracted $155 million. Together, these funds represented more than half of the total inflows into Bitcoin ETFs, which reached $667.4 million for the day, with Bitcoin maintaining a trading price above $100,000 for twelve consecutive days. BlackRock's iShares Bitcoin Trust continued to dominate the market, bringing in $305.9 million in new investment, boosting its total assets to $66.9 billion and reaffirming its status as the largest Bitcoin ETF provider. This impressive performance is attributed to a high demand from hedge funds looking to leverage Bitcoin's pricing dynamics. Despite its strong showing, there remains a notable absence of participation from Vanguard in the Bitcoin ETF space, citing concerns about the speculative nature of cryptocurrencies.

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