Bitcoin ETFs See $887M Inflows as BTC Reclaims $71K

Spot Bitcoin ETFs witness their second-highest daily net inflows since launch as BTC marches toward all-time high levels.

Guy skating on flying bitcoins in the street.
Created by Kornelija Poderskytė from DailyCoin
  • 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.

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

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.