The 11 US-based spot Bitcoin ETF products have achieved a remarkable 18-day net inflow streak with increasing investments after bagging a daily net inflow of $217.78 million. This streak indicates a significant level of interest from investors who keep driving up demand for Bitcoin.
US Spot Bitcoin ETF Breaks The Norm
U.S. spot Bitcoin ETFs have reached a new milestone, experiencing its longest streak of positive flows following a $488 million inflow on June 5. SoSoValue reconfirmed BlackRock’s leadership as the largest spot bitcoin ETF by net assets, beating Fidelity FBTC to the title.
Out of the total net inflow of $217.78 million across the 11 funds, IBIT drew in $350 million in net inflows. Fidelity’s and VanEck’s Bitcoin ETFs also saw net inflows, however, it is notably smaller than BlackRock’s.
Conversely, Ark Invest’s ARKB saw significant outflows of $96.6 million making it one of the most significant fund exits from the ETF. Grayscale’s GBTC had outflows of $37.5 million, and Bitwise’s BITB also had outflows of $3 million. Other Spot bitcoin ETFs like Invesco’s BTCO had no flows recorded on Thursday.
Earlier this month, the ETF reached a significant milestone of 857,700 BTC in assets on sustained buyups since January. The 11 spot Bitcoin ETFs are seeing significant growth with recent net inflows totaling $15.56 billion since approval in January.
The flow has picked up from a pause in April and May, though it is still below the peak seen in March.
ETF Inflows Boost Bitcoin Adoption
The inflow of funds into Bitcoin ETF has enhanced the adoption and acceptance of Bitcoin BTC among traditional investors as price signals remain bullish.
Surpassing the Tuesday high of $71,659 could potentially propel Bitcoin toward testing the all-time high of around $73,800. Presently, Bitcoin stands at $71,098.13, showing a 0.18% increase in the last 24 hours per data from CoinMarketCap.
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