crypto.news
Spot Bitcoin ($BTC) exchange-traded funds (ETFs) in the U.S. have started their fourth consecutive week with positive gains while $BTC consolidates.
According to data provided by Farside Investors, spot $BTC ETF products in the U.S. recorded $105.1 million in inflows on June 3 — making a positive entrance into the fourth straight week.
The majority of the inflows came from Fidelity Wise Origin Bitcoin Fund (FBTC), worth $77 million. Bitwise Bitcoin ETF (BITB) and ARK 21Shares Bitcoin ETF(ARKB) registered $14.3 million and $10.7 million inflows, respectively.
Moreover, VanEck Bitcoin Trust ETF (HODL) and WisdomTree Bitcoin Fund (BTCW) had a smaller share of the inflows, recording $2 million and $1.1 million in net inflows, respectively.
The largest $BTC ETF, iShares Bitcoin Trust (IBIT), with over $16.65 billion in net inflows since the launch of the investment products in the U.S., remained neutral on June 3. Grayscale Bitcoin Trust (GBTC) also had $0 net flows.
Notably, Bitcoin ETFs have been consistently recording positive net flows since May 10 with only one day of $0 cumulative flows on May 27.
This is the second-longest positive run, 16 days, for the $BTC ETFs in the U.S. — the products witnessed 18 days of consistent inflows between Jan. 26 and Feb 20.
Bitcoin’s reaction
Bitcoin has been mostly consolidating between $68,800 and $69,300 over the past day. The flagship cryptocurrency briefly touched a seven-day high of $70,230 at around 13:50 UTC on June 3.
$BTC ETFs start 4th consecutive week with positive inflows - 1"> The $BTC price declined by 0.11% in the past 24 hours and is trading at $69,020 at the time of writing. The asset’s market cap is sitting at $1.36 trillion, with a 50.4% dominance over the whole cryptocurrency market.
Data shows that Bitcoin’s daily trading volume surged by 30%, reaching $29.5 billion.