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Spot Bitcoin ETFs Maintain Their Inflow Streak with BlakRock’s IBIT as the Lead

The US spot Bitcoin ETFs have performed impressively since their launch in January. Moreover, they have maintained a significant net inflow within the past few weeks. As of yesterday, the spot BTC ETFs saw a cumulative inflow of $220 million. This marked their 18th trading day of a consecutive inflow streak. 

BlackRock’s ETF product, IBIT, impressively maintains the lead with the largest daily inflows. 

Spot Bitcoin ETFs Hit Their Eighteenth Trading Day Of Continuous Inflow Streak

Launched on January 10, The US spot Bitcoin exchange-traded funds (ETFs) have now hit their eighteenth trading day of continuous inflow stream. The crypto products last recorded an outflow on May 10, mostly from Grayscale’s GBTC.

According to data from Farside Investors, GBTC saw an outflow of $103 million on May 10. 

Notably, the combined outflow for all ETFS stood at $84.7 million on the same day. However, the trend changed in the following days as the 11 spot Bitcoin ETFs posted positive daily trading results. On June 6, the ETFs accumulated a total inflow of $217.7 million.

BlakcRock’s IBIT took the lead with the largest inflow of $349.9 million for the day. Fidelity recorded an inflow of $3.1 million for the day.

Conversely, Glayscale’s GBTC, ARK Invest’s ARKB, and Bitwise’s BITB all saw outflows for the day. They recorded outflows of $37.6 million, $96.6 million, and $3.1 million, respectively. The remaining ETFs didn’t show any signs of activity for the days.

Moreover, some market observers believed that the US inflation data contributed to the positive overturn of the ETFs. Bitcoin’s price reaction reflects increasing bullish movement as the primary crypto assets climbed the $70,000 threshold. 

As of June 4, the spot ETFs witnessed their second-largest cumulative inflow of $886.6 million. Also, the progress continued on June 5 with a total inflow of $488.1 million.

Fidelity’s ETF, FBTC, Records A Key Milestone with Days of Significant Inflows

Fidelity’s Bitcoin ETF, FBTC, has stirred the market with significant inflows within the past few days. For some days, FBTC led the others with almost a $221 million single-day inflow.

As of May 30, FBTC recorded an inflow of $119.1 million. Also, on June 3, it contributed more than 50% of the spot Bitcoin ETF market inflow. While most products had little or no inflows, FBTC amassed an inflow of $77 million.

Additionally, with the June 4 and 5 inflows, FBTC’s total assets under management (AUM) exceeded $9.5 billion. On these days, its inflows amounted to $378.7 million and $220.6 million, respectively. 

The leading spot Bitcoin ETF, IBIT, saw inflows of $274.4 million and $155.4 million on June 4 and 5, respectively. Amid the impressive output of the US spot BTC ETFs, the underlying crypto asset, Bitcoin, only reflected a mildly positive reaction.

Bitcoin (BTC) trades at $71,286, indicating a 0.54% increase over the past day. It boasts a market cap of $1.404 trillion and a 53.23% dominance over altcoins. 

The post Spot Bitcoin ETFs Maintain Their Inflow Streak with BlakRock’s IBIT as the Lead appeared first on The Tech Report.

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