Bitcoin ETFs See $887M Inflows as BTC Reclaims $71K
- U.S. spot Bitcoin ETFs had a successful trading day on Tuesday.
- The funds recorded their second-highest inflows since launch.
- Grayscale’s GBTC fund also witnessed a rare inflow.
U.S. spot Bitcoin exchange-traded funds witnessed their second-highest daily net inflows since debut in January, attracting almost a billion worth of funds on June 4.
The inflow resurgence comes as Bitcoin (BTC) notched an upward move on Tuesday, jumping from a daily low of $68,621 to $71,040. The crypto asset has since recorded its longest run of daily increase in three months to exchange hands at $71,126 at press time, nearly 3.5% shy of the record high $73,798 set in March.
Spot Bitcoin ETF Inflows
According to provisional data by Farside Investors, U.S.-based spot Bitcoin ETFs recorded $886.6 million in net inflows on June 4, marking their 16th consecutive day of net inflows. This is only one day behind the longest 17-day positive streak the funds witnessed from January to mid-February.
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The Fidelity Wise Origin Bitcoin Fund (FBTC) led Tuesday’s inflows with $378.7 million, followed by BlackRock’s iShares Bitcoin Trust (IBIT) and the ARK 21Shares Bitcoin ETF (ARKB) at $274.4 million and $138.7 million, respectively.
Notably, the Grayscale Bitcoin Trust (GBTC) saw its seventh inflow day since it converted from a closed-end fund to a spot ETF in January. On Tuesday, the fund drew in $28.2 million as VanEck’s HODL and Valkyrie’s BRRR posted single-digit inflows of $4 million and $1.6 million, respectively.
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Bitwise’s BITB attracted $61 million, while all the remaining ETFs recorded $0 inflows on June 4, including Invesco’s BTCO, WisdomTree’s BTCW, Franklin Templeton’s EZBC, and Hashdex’s DEFI.
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Tuesday’s inflows bring the cumulative total net inflows of the funds to date to $14.85 billion.
Stay updated on Thailand’s first spot Bitcoin ETF:
Thailand Approves First Spot Bitcoin Exchange-Traded Fund (ETF)
Read about the launch of spot Bitcoin ETFs in Hong Kong:
Analysts Evaluate Hong Kong Bitcoin ETFs’ Disappointing Debut
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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