Spot Bitcoin ETFs Maintain Impressive Inflow Streak

Spot Bitcoin ETFs in the US have been on a winning streak since their launch in January, with a remarkable net inflow of $220 million as of yesterday. The trend continued for the 18th consecutive trading day, with BlackRock’s IBIT leading the pack in daily inflows.

The US spot Bitcoin ETFs have seen a surge in investor interest, with a continuous inflow streak since May 10, when Grayscale’s GBTC recorded an outflow of $103 million. However, the tide turned in favor of the ETFs, with a total inflow of $217.7 million on June 6.

Fidelity’s ETF, FBTC, has also made waves in the market with significant inflows, surpassing $9.5 billion in total assets under management. With inflows of $378.7 million on June 4 and $220.6 million on June 5, FBTC has been a standout performer in the spot Bitcoin ETF market.

Despite the positive performance of the ETFs, the underlying crypto asset, Bitcoin, has only shown a mild reaction, trading at $71,286 with a 0.54% increase over the past day. With a market cap of $1.404 trillion and a dominance of 53.23% over altcoins, Bitcoin continues to be a key player in the cryptocurrency market.

Overall, the US spot Bitcoin ETFs have demonstrated resilience and investor confidence, with inflows continuing to drive their growth and performance in the market.