BTC ETFs continue to see positive inflows for the fourth consecutive week
Bitcoin ETFs in the U.S. have kicked off their fourth consecutive week with positive gains as Bitcoin continues to consolidate. According to Farside Investors, spot Bitcoin ETF products in the U.S. saw $105.1 million in inflows on June 3, marking a positive start to the fourth straight week. The majority of the inflows came from Fidelity Wise Origin Bitcoin Fund (FBTC) with $77 million, followed by Bitwise Bitcoin ETF (BITB) with $14.3 million, and ARK 21Shares Bitcoin ETF (ARKB) with $10.7 million. 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), remained neutral with $0 net flows. Grayscale Bitcoin Trust (GBTC) also had $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 is the second-longest positive run for BTC ETFs in the U.S., with the longest being 18 days between Jan. 26 and Feb. 20.
Bitcoin has been mostly consolidating between $68,800 and $69,300 over the past day, reaching a seven-day high of $70,230. The price of BTC has declined by 0.11% in the past 24 hours and is currently trading at $69,020. Its market cap sits at $1.36 trillion, with a 50.4% dominance over the cryptocurrency market. Daily trading volume for Bitcoin has surged by 30%, reaching $29.5 billion.
