ETFs
US Bitcoin Spot ETFs See Longest Entry Streak of 18 Days
US Bitcoin Spot ETFs See Longest Entry Streak of 18 Days
American spot Bitcoin Exchange-traded funds (ETFs) achieved their longest streak of consecutive net inflows since their inception, recording an 18-day streak of positive flows on Thursday.
The 11 spot Bitcoin ETFs collectively saw a net inflow of $217.78 million, with BlackRock’s IBIT leading the way. The largest spot Bitcoin ETF by net assets, IBIT, generated $350 million in net inflows on Thursday, according to SoSoValue data. Other notable ETFs, such as those from Fidelity and VanEck, also reported positive net inflows, although their contributions were significantly lower than those of BlackRock’s IBIT.
However, not all ETFs have seen positive flows. Ark Invest’s ARKB saw net outflows of $96.6 million, marking one of the ETF’s largest outflows. Similarly, Grayscale’s recently converted GBTC saw net outflows of $37.5 million, and Bitwise’s BITB reported net outflows of $3 million. In contrast, the remaining five spot Bitcoin ETFs, including Invesco’s BTCO, saw no flows on Thursday.
Since their launch in January, the 11 spot Bitcoin ETFs have accumulated a total net inflow of $15.56 billion. This recent streak of net inflows indicates a recovery from the stagnation seen in April and May, although current inflows are still below the peak levels recorded in March, according to The Block’s data dashboard. These positive and sustained net inflows, notably thanks to BlackRock’s IBIT, underline the continued strong interest and confidence of investors in Bitcoin as an asset class.