Bitcoin ETFs Record Historic Inflows, Rally Continues

By: Eva Baxter

Bitcoin ETFs Experience Historic Inflows, Topping $887 Million

On June 4, Bitcoin exchange-traded funds (ETFs) experienced a momentous day with inflows amounting to $886.6 million, making it the second-largest inflow day since their inception. This notable milestone comes just behind the March 12 surge which saw inflows exceeding $1 billion. Notably, the recent inflows were recorded without a single outflow from any U.S. ETF, including the Grayscale Bitcoin Trust (GBTC), highlighting the strong investor confidence in the cryptocurrency market.

Leading the impressive inflows was Fidelity's FBTC ETF, which alone accounted for $378.7 million, marking its largest single-day inflow since March 7. This surge brought Fidelity’s total net inflows to a staggering $9.3 billion. Following closely was BlackRock's IBIT ETF, contributing $274.4 million in inflows, thus raising its total net inflows to an impressive $17 billion. Bitwise's BITB ETF also saw significant activity with $61 million in new investments, while Ark’s ARKB ETF witnessed $138.7 million in inflows. Grayscale's GBTC ETF added $28.2 million, yet it still reports total net outflows of $17.9 billion. Collectively, these inflows from various ETFs amounted to $15 billion, as analyzed by Farside.

Data from Heyapollo provides further insight into these historic inflows, noting that the $886.6 million equates to approximately 12,590 Bitcoin, with Fidelity's FBTC ETF alone accounting for 5,374 BTC. This surge marks the 16th consecutive day of increased inflows for U.S. Bitcoin ETFs, and another day of inflows could set a new record for consecutive trading days of positive momentum.

The bullish sentiment towards Bitcoin and its ETFs has also reflected in the stabilization of Bitcoin’s price, which saw an increase to over $71,000. This resurgence is backed by strong institutional investments and continued confidence in the cryptocurrency’s potential.