Bitcoin Spot ETFs Attract $887 Million, Second Highest Single-Day Inflow in History
Bitcoin spot exchange-traded funds (ETFs) in the United States experienced their second-highest daily net inflows since their listing, drawing in a substantial $886.75 million on June 4.
The record for the highest daily net inflows from spot Bitcoin funds occurred on March 12, with inflows reaching $1.05 billion.
Among the contributors to Tuesday’s significant net inflows, Fidelity’s FBTC led the way with $379 million, followed by BlackRock’s IBIT with $274 million, according to data from SoSoValue.
The cumulative total net inflows for spot bitcoin ETFs currently amount to $14.85 billion.
ARK Invest and 21Shares’ ARKB witnessed inflows of $139 million, while Bitwise’s BITB recorded $61 million worth of inflows.
Grayscale’s GBTC attracted $28 million, marking its third largest net inflow since its conversion.
VanEck and Valkyrie’s ETFs also experienced single-digit net inflows.
With the inflows on Tuesday, the 11 spot bitcoin ETFs extended their streak of consecutive net inflows to 16 days, trailing only one day behind the longest positive flow streak recorded from January to mid-February.
Since their inception, spot Bitcoin ETFs have accumulated a total net inflow of $14.57 billion.
However, the total volume of flows in U.S. spot Bitcoin ETFs remains lower than the peak observed in March.
Bitcoin’s value briefly surpassed the $71,000 mark late Tuesday night, trading at around $70,800 at the time of publication.
Analysts from Bitfinex suggest that this correction phase seems to be approaching its end.
Long-term holders selling off their Bitcoin holdings was a significant factor in the correction from the all-time highs.
However, blockchain data indicates that these holders have started accumulating Bitcoin again for the first time
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