🌎 Bitcoin ETFs See $137.2M Inflows Over Four Consecutive Days

U.S. spot Bitcoin (BTC) ETFs have seen a positive shift, registering four consecutive days of net inflows amounting to $137.2 million. This turnaround began on June 25, following a tough week of consistent net outflows across nearly all funds.

Spot Bitcoin ETF Flows: June 25-28

On June 25, spot Bitcoin ETFs in the U.S. recorded $31 million in net inflows, with Fidelity’s FBTC leading the charge with $48.8 million in inflows, followed by the Bitwise Bitcoin ETF (BITB) with $15.2 million. The VanEck Bitcoin Trust (HODL) also reported $3.5 million in net inflows. Most other funds remained neutral, except for Grayscale’s GBTC, which faced significant net outflows of $30.3 million. However, on June 26, GBTC saw its first positive inflow since June 5, as ETFs collectively registered a net inflow of $21.4 million.

Once again, Fidelity and VanEck saw gains, bringing in $18.6 million and $3.4 million worth of BTC, respectively. ARK Invest and 21Shares’ ARKB was the worst-performing fund on June 26, recording nearly $5 million in net outflows.

Net Inflows Continue

On June 27, the net inflows were lower than the previous two days, with spot Bitcoin ETFs raking in about $11.8 million. The activity was spread across five funds, with Bitwise responsible for the highest inflow at $8 million. Fidelity also had another positive day, recording $6.7 million in net inflows.

Invesco Galaxy’s BTCO fund had a positive inflow of $3.1 million after two consecutive days of zero net flows. The Franklin Bitcoin ETF (EZBC) saw $3.6 million coming in after two days of no net flows. However, GBTC fell back into net outflows, losing about $11.4 million worth of Bitcoins.

June 28: Strong Inflows

On June 28, Bitcoin spot ETFs saw a total inflow of $73 million. Grayscale’s GBTC experienced more outflows of about $27.2 million, while BlackRock’s IBIT saw a one-day inflow of $82.4 million. ARKB also had a good day, recording inflows of $42.8 million. The rest of the funds saw no net flows despite a substantial daily trading volume of $1.31 billion.

To date, the 11 spot Bitcoin ETFs have attracted a total net inflow of over $14.5 billion since their launch in January 2024. This surge in ETF investments has been a major driver of Bitcoin’s growth this year. However, during the week of positive flows, Bitcoin’s price dipped by more than 5%, possibly influenced by the upcoming repayments to Mt. Gox creditors, which could add selling pressure to the market.

At the time of writing, BTC was priced at $60,862.07 and had a market capitalization of $1,200,201,471,649. The price represented a 1.2% drop over the last 24 hours, underperforming the global crypto market which was also down 3.6%.