Influx of 1372m witnessed over a span of four days
The United States has witnessed a positive shift in the inflow of Bitcoin (BTC) ETFs, with four consecutive days of net inflows totaling $137.2 million. This turnaround began on June 25, following a challenging week of consistent net outflows across almost all funds.
On that day, data from Farside Investors revealed that spot Bitcoin ETFs in the U.S. recorded $31 million in net inflows. Fidelity’s FBTC led the way 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.
While the majority of funds remained neutral, Grayscale’s GBTC experienced significant net outflows of $30.3 million. However, on June 26, GBTC saw its first positive inflow since June 5, as the 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. On the other hand, ARK Invest and 21Shares’ ARKB performed poorly on June 26, recording nearly $5 million in net outflows.
On June 27, the net inflows were lower compared to the previous two days, with the spot Bitcoin ETFs attracting approximately $11.8 million. Bitwise was responsible for the highest inflow at $8 million, while Fidelity recorded $6.7 million in net inflows.
Invesco Galaxy’s BTCO fund also experienced a positive inflow of $3.1 million after two consecutive days of zero net flows. The same was observed for the Franklin Bitcoin ETF (EZBC), which saw $3.6 million coming in following two days of no net flows. However, GBTC fell back into net outflows, losing about $11.4 million worth of Bitcoins.
On June 28, Bitcoin spot ETFs witnessed a total inflow of $73 million. Grayscale’s GBTC experienced further outflows of around $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, according to SoSoValue.
Since their launch in January 2024, the 11 spot Bitcoin ETFs have attracted a total net inflow of over $14.5 billion. This surge in ETF investments has played a significant role in Bitcoin’s record-breaking growth this year.
However, during the week of positive flows, the cryptocurrency’s price dropped by more than 5%, potentially influenced by 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 with a market capitalization of $1,200,201,471,649, according to CoinGecko. This represented a 1.2% drop in the last 24 hours, indicating underperformance compared to the global crypto market, which was also down 3.6%.
Read more: 21Shares files spot Solana ETF with SEC.
