Spot bitcoin ETFs record net inflows for nine straight days

Quick Take

  • U.S. spot bitcoin exchange-traded funds saw $107.91 million worth of net inflows on Thursday.
  • Fund inflows from Fidelity, VanEck and others outweighed outflows from Grayscale’s GBTC.
  • The SEC approved eight spot ether ETFs later on Thursday.

U.S. spot bitcoin exchange-traded funds recorded a ninth consecutive day of net inflows, drawing in $107.91 million on Thursday. This is the longest streak of positive flows seen in spot bitcoin ETFs since mid-March, when they logged 10 straight days of inflows.

BlackRock’s IBIT led the inflows with $89 million, followed by Fidelity’s FBTC that drew in $19 million. VanEck’s spot bitcoin fund also reported net inflows of $10 million, according to data from SoSoValue. Ark Invest and 21Shares’ bitcoin fund and Invesco and Galaxy Digital’s ETF both logged daily net inflows of $2 million.

Grayscale’s converted GBTC reported a net outflow of $14 million. Funds from Bitwise, Valkyrie, Franklin Templeton, WisdomTree and Hashdex recorded zero flows on Thursday.

Combined, the 11 spot bitcoin ETFs saw total net inflows of over $13.43 billion since their January listing. However, overall flows for the 11 ETFs remain significantly lower than their peak in March, The Block’s data dashboard showed.

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The price of bitcoin fell 2.61% in the past 24 hours to $67,642, according to The Block's price page

After Thursday’s market closed, the U.S. Securities and Exchange Commission announced that it approved 19b-4 forms for eight spot Ethereum ETFs from BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy and Franklin Templeton. The ether ETFs will still need to have their S-1 registration statements approved by the regulator before trading can start.


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About Author

Danny Park is an East Asia reporter at The Block writing on topics including Web3 developments and crypto regulations in the region. He was formerly a reporter at Forkast.News, where he actively covered the downfall of Terra-Luna and FTX. Based in Seoul, Danny has previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor of Journalism and Business Marketing from the University of Hong Kong.

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