Spot Bitcoin (BTC) exchange-traded funds (ETFs) in the U.S. have entered their fourth consecutive week of positive gains while BTC consolidates.

According to data provided by Farside Investors, spot BTC ETF products in the U.S. recorded $105.1 million in inflows on June 3, marking a strong start to the fourth straight week of positive performance.

The majority of these inflows came from the Fidelity Wise Origin Bitcoin Fund (FBTC), which accounted for $77 million. Meanwhile, the Bitwise Bitcoin ETF (BITB) and ARK 21Shares Bitcoin ETF (ARKB) recorded inflows of $14.3 million and $10.7 million, respectively.

Additionally, the VanEck Bitcoin Trust ETF (HODL) and WisdomTree Bitcoin Fund (BTCW) saw smaller inflows of $2 million and $1.1 million, respectively.

The largest BTC ETF, iShares Bitcoin Trust (IBIT), with over $16.65 billion in net inflows since its launch, remained neutral on June 3. The Grayscale Bitcoin Trust (GBTC) also reported $0 net flows.

Bitcoin ETFs have been consistently recording positive net flows since May 10 with only one day of $0 cumulative flows on May 27.

This marks the second-longest positive run for BTC ETFs in the U.S., with 16 consecutive days of inflows. The longest streak was 18 days, observed between January 26 and February 20.

Bitcoin’s Reaction

Bitcoin has been mostly consolidating between $68,800 and $69,300 over the past day. The flagship cryptocurrency briefly touched a seven-day high of $70,230 at around 13:50 UTC on June 3.

The BTC price declined by 0.11% in the past 24 hours and is trading at $69,020 at the time of writing. The asset’s market cap sits at $1.36 trillion, with a 50.4% dominance over the entire cryptocurrency market.

Data shows that Bitcoin’s daily trading volume surged by 30%, reaching $29.5 billion.

For more updates and the latest news in the world of cryptocurrencies, investing, and finance, visit Global Crypto News.

Post Views: 18