US spot Bitcoin ETFs log highest inflow day since June, two-month high in total value

Quick Take

  • Following a seven trading day streak of inflows and bolstered by the rising price of Bitcoin, the total assets held by US-based spot Bitcoin ETFs has reached a two-month high. 
  • Friday also marked the largest inflows to the funds since early June, a nearly four-month high. 

US-based spot bitcoin exchange-traded funds have extended their inflow streak to seven straight trading days, with Friday's inflows marking the largest single-day intake since early June, a nearly four-month high. 

Following the streak, the ETFs have achieved a two-month high in terms of total asset value, with $61.21 billion worth of bitcoin currently being held by the twelve funds currently available for trading. 

On Friday, the funds saw a daily total net inflow of $494.27 million, according to SoSoValue data, led by a $203.1 million inflow to Ark and 21Shares' ARKB fund. Fidelity's FBTC logged the second-highest inflow, with $123.6 million, followed close behind by BlackRock's IBIT fund, with $110.8 million in inflows on Friday. 

Also recording inflows were Grayscale's GBTC with $26.1 million, Bitwise's BITB with $12.9 million, VanEck's HODL with $11.1 million, Invesco's BTCO with $3.3 million, and Valkyrie's BRRR with about $3.3 million as well. The four remaining funds saw no significant inflows nor outflows. 

The daily total inflow of $494.27 million was the highest single-day intake for the funds since June 4, when the funds saw $886.75 million in inflows. The total net asset value of the funds, $61.21 billion, is the highest value recorded since July 29, when the total net asset value was $61.73 billion, according to SoSoValue data. 

The U.S. Securities and Exchange Commission's recent approval of BlackRock's proposal to list and trade options for its spot Bitcoin ETF has led some analysts to predict a "flurry" of new filings, though others have turned a critical eye towards the potential effects of more "paper" Bitcoin on the demand for underlying asset


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About Author

Zack Abrams is a writer and editor based in Brooklyn, New York. Before coming to The Block, he was the Head Writer at Coinage, a Web3 media outlet covering the biggest stories in Web3. The story he co-reported on Do Kwon won a 2022 Best in Business Journalism award from SABEW. Other projects included a deep dive into SBF's defense based on exclusive documents and unveiling the identity of the hacker behind one of 2023's biggest crypto hacks — so far. He can be reached via X @zackdabrams or email, [email protected].