- Bitcoin ETFs see six days of positive inflows, with a record $310M inflow on Friday.
- Despite a bearish crypto market, U.S. ETFs see an inflow of $1.05B this week.
- Strong performances driven by ETFs of BlackRock (IBIT) and Fidelity (FBTC).
The Bitcoin spot exchange-traded fund (ETF) market is experiencing a growth spurt, with a remarkable sixth consecutive trading day of positive inflows, culminating in the largest net inflow in five weeks.
According to market data, U.S. Bitcoin ETFs pulled in a net inflow of over $310 million on Friday, the highest figure in 25 trading days. Notably, the last time the market saw a larger inflow was on June 5, when the ETF witnessed a $488.1 million net inflow.
On Thursday, U.S. Bitcoin ETFs saw a modest net flow of $79 million, while the previous day’s figure was $147 million, in contrast to the $310 million recorded on Friday. Yesterday’s substantial inflow was driven by a rare occurrence: not a single issuer reported a negative flow for the day.
Even Grayscale’s ETF, historically plagued by outflows, bucked its trend with a notable $23 million positive flow. BlackRock’s IBIT led the pack, with a substantial influx of $120 million. Fidelity’s FBTC closely followed, with an inflow of $115.1 million.
Conversely, several ETFs, including the Valkyrie Bitcoin Fund (BRRR), Invesco Galaxy Bitcoin ETF (BTCO), and WisdomTree Bitcoin Fund (BTCW), did not attract any new investments on Friday, registering zero inflows.
Overall, the U.S. Bitcoin ETF market has experienced a remarkable week, with a cumulative inflow of $1.05 billion and not a single day of negative flow. This streak has contributed to the cumulative net inflow of $15.81 billion for the 10 U.S. Bitcoin ETFs in their 126 trading days.
Notably, the Bitcoin ETF market is thriving despite the bearish sentiment that has dominated the crypto market for several weeks. Meanwhile, the broader crypto market has remained relatively stable this week, with Bitcoin’s price hovering around the $57,000 range.
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