Market Data 
U.S. spot Bitcoin (BTC) ETFs have seen a positive shift, registering four consecutive days of net inflows amounting to $137.2 million.
The turnaround started on June 25, following a tough week of consistent net outflows across nearly all funds.
Bitcoin spot ETF flows June 25-28 | Source: Farside Investors
On that day, per data from Farside Investors, spot Bitcoin ETFs in the U.S. recorded $31 million in net inflows, with Fidelity’s FBTC leading the charge with $48.8 million in inflows, followed by the Bitwise Bitcoin ETF (BITB) with $15.2 million. The VanEck Bitcoin Trust (HODL) also reported $3.5 million in net inflows.
The rest of the funds largely stayed neutral, except for Grayscale’s GBTC, which faced significant net outflows of $30.3 million. However, on June 26, GBTC saw its first positive inflow since June 5, as the ETFs collectively registered a net inflow of $21.4 million.
Once again, Fidelity and VanEck saw gains, respectively, bringing in $18.6 million and $3.4 million worth of BTC. ARK Invest and 21Shares’ ARKB was the worst-performing fund on June 26, recording nearly $5 million in net outflows.
You might also like: Bitcoin price may not rise that ‘dramatically,’ Peter Thiel says
On June 27, the net inflows were much lower than the previous two days, with the spot Bitcoin ETFs raking in about $11.8. The activity was spread across five funds, with Bitwise responsible for the highest inflow at $8 million. Fidelity also had another positive day, recording $6.7 million in net inflows.
Invesco Galaxy’s BTCO fund also had a positive inflow of $3.1 million after two consecutive days of zero net flows. The same was replicated on the Franklin Bitcoin ETF (EZBC), which saw $3.6 million coming in following two days of no net flows. GBTC, however, fell back into net outflows, losing about $11.4 million worth of Bitcoins.
On June 28, Bitcoin spot ETFs saw a total inflow of $73 million. Grayscale’s GBTC experienced more outflows of about $27.2 million, while BlackRock’s IBIT saw a one-day inflow of $82.4 million. ARKB also had a good day, recording inflows of $42.8 million. The rest of the funds saw no net flows despite a substantial daily trading volume of $1.31 billion, according to SoSoValue.
Summary of spot Bitcoin ETF flow activity | Source: SoSoValue
To date, the 11 spot Bitcoin ETFs have attracted a total net inflow of over $14.5 billion since their launch in January 2024. This surge in ETF investments has been a major driver of Bitcoin’s record-breaking growth this year.
However, in the week that the positive flows happened, the cryptocurrency’s price dipped by more than 5%, possibly influenced by the upcoming repayments to Mt. Gox creditors, which could add selling pressure to the market.
At the time of writing, BTC was priced at $60,862.07 and had a market capitalization of $1,200,201,471,649, according to CoinGecko. The price represented a 1.2% drop over the last 24 hours, meaning it was underperforming the global crypto market which was also down 3.6%.
Read more: 21Shares files spot Solana ETF with SEC
