Bitcoin
Spot Bitcoin ETFs Rebound, $137.2M Inflow Increase in Four Days
Bitcoin spot in the US (BTC) ETFs saw a positive shift, recording four consecutive days of net inflows worth $137.2 million.
The recovery began on June 25, after a difficult week of consistent net results. exits in almost all funds.
Bitcoin Spot ETF Flows June 25-28 | Source: Farside Investors
That day, for data from Farside Investors, U.S. Bitcoin spot ETFs saw $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.
The rest of the funds remained largely neutral, except for Grayscale’s GBTC, which faced significant net outflows of $30.3 million. However, on June 26, GBTC recorded its first positive inflow since June 5, as ETFs collectively recorded a net inflow of $21.4 million.
Again, Fidelity and VanEck made gains, respectively, bringing in $18.6 million and $3.4 million worth of BTC. ARK Invest and 21Shares’ ARKB was the worst-performing fund on June 26, recording nearly $5 million in net outflows.
On June 27, net inflows were much lower than the previous two days, with spot Bitcoin ETFs bringing in around $11.8. The activity was distributed across five funds, with Bit by bit responsible for the largest inflow of $8 million. Fidelity also had another positive day, recording $6.7 million in net inflows.
Invesco Galaxy’s BTCO fund also saw a positive inflow of $3.1 million after two consecutive days of zero net inflows. The same was replicated in the Franklin Bitcoin ETF (EZBC), which saw $3.6 million coming in after two days of no net inflows. GBTC, however, fell back to net outflows, losing around $11.4 million worth of Bitcoin.
On June 28, spot Bitcoin ETFs saw a total inflow of $73 million. Grayscale’s GBTC saw the most outflows of around $27.2 million, while BlackRock’s IBIT saw a single-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 inflows despite a substantial daily trading volume of $1.31 billion, according to SoSoValue.
Bitcoin ETF Spot Flow Activity Summary | Source: SoSoValue
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 increase ETF Investments have been one of the main drivers of Bitcoin’s record growth this year.
However, in the week in which the positive flows occurred, the price of the cryptocurrency fell by more than 5%, possibly influenced by the next refunds to Mt. Gox’s creditors, which could add selling pressure to the market.
At the time of writing, BTC was trading at $60,862.07 and had a market cap of $1,200,201,471,649, according to CoinGecko. The price represented a 1.2% drop in the last 24 hours, meaning it underperformed the global crypto market, which also fell 3.6%.