U.S. Bitcoin exchange-traded funds (ETFs) have experienced a positive turnaround, with four consecutive days of net inflows totaling $137.2 million. This shift began on June 25, following a week of consistent net outflows across most funds.
According to data from Farside Investors, on June 25, spot Bitcoin ETFs in the U.S. recorded $31 million in net inflows. Fidelity’s FBTC led the way with $48.8 million in inflows, followed by Bitwise Bitcoin ETF (BITB) with $15.2 million. The VanEck Bitcoin Trust (HODL) also reported $3.5 million in net inflows.
Most other funds remained neutral, except for Grayscale’s GBTC, which experienced significant net outflows of $30.3 million. However, on June 26, GBTC saw its first positive inflow since June 5, as the ETFs collectively registered a net inflow of $21.4 million.
Once again, Fidelity and VanEck saw gains, bringing in $18.6 million and $3.4 million worth of BTC, respectively. ARK Invest and 21Shares’ ARKB performed poorly on June 26, recording nearly $5 million in net outflows.
On June 27, the net inflows were lower than the previous two days, with spot Bitcoin ETFs seeing approximately $11.8 million in inflows. Bitwise had the highest inflow at $8 million, and Fidelity recorded another positive day with $6.7 million in net inflows.
Invesco Galaxy’s BTCO fund also had a positive inflow of $3.1 million after two consecutive days of zero net flows. The same was true for the Franklin Bitcoin ETF (EZBC), which saw $3.6 million coming in after two days of no net flows. However, GBTC fell back into net outflows, losing about $11.4 million worth of Bitcoins.
On June 28, Bitcoin spot ETFs experienced a total inflow of $73 million. Grayscale’s GBTC saw more outflows of about $27.2 million, while BlackRock’s IBIT had a one-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 flows despite a substantial daily trading volume of $1.31 billion, according to SoSoValue.
Since their launch in January 2024, the 11 spot Bitcoin ETFs have attracted a total net inflow of over $14.5 billion. This surge in ETF investments has been a major driver of Bitcoin’s record-breaking growth this year.
However, during the week of positive flows, the price of Bitcoin dipped by more than 5%, possibly due to the upcoming repayments to Mt. Gox creditors, which could create selling pressure in the market.
At the time of writing, BTC was priced at $60,862.07 with a market capitalization of $1,200,201,471,649, according to CoinGecko. This represented a 1.2% drop in the last 24 hours, underperforming the global crypto market, which was also down 3.6%.
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