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Bears rekt: Bitcoin ETFs see runner-up record day with $887M inflows

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U.S. spot Bitcoin ETFs on June 4 saw their second-highest net inflow day in their five-month history, with $887 million flowing into the 11 funds.

Fidelity’s Bitcoin fund led the pack with $378.7 million in net inflows on the U.S. spot Bitcoin ETFs second-highest joint net inflow day.The Fidelity Wise Origin Bitcoin Fund saw the largest inflow at $378.7 million while BlackRock’s iShares Bitcoin Trust was second with $275 million,

The ARK 21Shares Bitcoin ETF was the third-best performer with over $138 million in net inflows.The Grayscale Bitcoin Trust saw a rare inflow day at $28.2 million, the seventh time it's seen an inflow since it converted from a closed-end fund to a spot ETF in January. “I was told several months ago that all of the ‘degen retail’ investors who wanted to buy had already done so there was nobody left,” Geraci wrote. “How can this be?”

“The data just gets more and more brutal for the orange poker chip crowd as well as the paul krugman-ites,” Bloomberg ETF analyst Eric Balchunasfrom Invesco Galaxy, Franklin Templeton, WisdomTree and Hashdex didn’t see any demand, with each of the issuers recording no flows for June 4. However, the Grayscale Bitcoin Trust saw a rare inflow day at $28.2 million. It marked the seventh time that GBTC had recorded an inflow since it converted into spot form nearly five months ago.Grayscale’s Bitcoin product initially held 620,000 Bitcoin when the spot Bitcoin ETFs launched, but that figure has since fallen to 285,481 Bitcoin ,

 

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