Bitcoin ETFs See $131M Inflows Despite Market Volatility

U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) experienced notable inflows of $131 million on June 7, marking a 19-day streak of positive net movements. Despite this, ARK 21Shares Bitcoin ETF (ARKB) reported net outflows totaling 1,364 BTC, equivalent to approximately $96.84 million, reducing its holdings to 48,939 BTC, or roughly $3.47 billion.

Data from Lookonchain indicated that on June 7, an additional 3,689 BTC, valued at $261.91 million, was infused across nine distinct ETFs. This surge was primarily driven by BlackRock, which added 4,896 BTC valued at $347.61 million, boosting its total holdings to an impressive 302,540 BTC, worth $21.48 billion. This strong inflow highlights growing investor confidence, especially in products from BlackRock and Fidelity, overshadowing the outflows from ARK 21Shares. The Valkyrie Bitcoin Fund (BRRR) and the Franklin Bitcoin ETF (EZBC) both reported zero net flows on the same date.

Over the preceding week, BlackRock’s BTC ETF led in performance, registering a net inflow of 13,482 BTC. Fidelity Wise Origin Bitcoin Fund (FBTC) followed, securing 9,729 BTC, valued at over $671 million. ARK 21Shares Bitcoin ETF (ARKB) secured the third position with a seven-day net inflow of 1,764 BTC, estimated at $121 million. Other ETFs, such as VanEck Bitcoin Trust ETF (HODL) and Valkyrie Bitcoin Fund, saw smaller weekly net inflows of $7.7 million and $1.5 million, respectively.

By the week’s end:

BlackRock maintains its status as the largest Bitcoin ETF, with holdings exceeding $21 billion.
Grayscale follows with 285,651 BTC valued at around $19.7 billion.
Fidelity holds Bitcoin worth nearly $12 billion.

Since their introduction in January, U.S. Bitcoin ETFs now collectively manage over 880,000 BTC, valued at more than $62 billion. Despite these inflows, Bitcoin’s price remained relatively stable, fluctuating between $68,856 and $69,544 within a 24-hour period, according to CoinGecko data. BTC saw a slight decline of 0.9%, trading at $69,465, with a market cap of $1.36 trillion and a market dominance of 51.1%. The slight price dip coincided with a significant 34.81% drop in daily trading volume, which reached $20.9 billion.

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