US spot Bitcoin ETFs rake in $21.5M to extend positive streak

June 27, 2024
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US spot Bitcoin ETFs rake in $21.5M to extend positive streak

Photo credit: Kanchanara/Unsplash

United States spot Bitcoin exchange-traded funds (ETFs) recorded another day of net inflows, continuing its positive momentum that started earlier this week.

The Bitcoin funds posted $21.52 million in net inflows on June 26, led by The Fidelity Wise Origin Bitcoin Fund (FBTC), which tallied $19 million, data from SoSoValue shows. Meanwhile, the Grayscale Bitcoin Trust (GBTC), which previously saw $30.3 million in net outflows on Tuesday, drew net inflows of $4 million. The VanEck Bitcoin Trust (HODL) recorded $3 million in net inflows on the day.

The ARK 21Shares Bitcoin ETF (ARKB) was the only fund that posted net outflows, amounting to $5 million. It continues its negative streak from Tuesday when it recorded $6 million in net outflows.

The remaining funds, including the iShares Bitcoin Trust (IBIT), Bitwise Bitcoin ETF (BITB), Invesco Galaxy Bitcoin ETF (BTCO), Valkyrie Bitcoin Fund (BRRR), Franklin Bitcoin ETF (EZBC), WisdomTree Bitcoin Fund (BTCW), and Hashdex Bitcoin ETF (DEFI), saw zero flows.

The 11 spot Bitcoin funds have collectively attracted over $14.44 billion in net inflows since their launch in January.

The positive run started on June 25 when spot Bitcoin ETFs broke a seven-day outflow streak to post $31 million in net inflows. Fidelity’s BTC product also led that reversal, with $49 million.

Meanwhile, the debut of spot Ether ETFs in the US appears imminent, with new projections saying that such funds will get Securities and Exchange Commission approval as soon as July 4. Bloomberg ETF analyst Eric Balchunas had previously predicted July 2 as a possible launch date.

Read more: Crypto inflows reach $2B in June, ETP trading on the rise

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