US spot Bitcoin exchange-traded funds saw their biggest daily inflow during the month of June, reaching a total of $588.6 million on Tuesday. The big capital flow was the eleventh day of consecutive net positive flows for Bitcoin ETFs, which extended a continuous epidemic that began on June 10. The eleven-day streak marked the biggest consecutive inflow trend since the month of December 2024.
At the forefront, BlackRock’s iShares Bitcoin Trust (IBIT) had seen institutions and large investors inject fresh funds totaling $436.3 million. Fidelity’s FBTC contributed \$217.6 million and ranked as the second-largest injector among the funds listed that day. Companies like Bitwise and VanEck registered smaller gains due to their low participation. Grayscale’s GBTC, however, lost a sum of $85.2 million and showed that current investors still have a preference for newer ETF constructs.
The recent Iranian-Israel ceasefire calmed global capital markets and dissipated investors’ concerns, boosting risk appetite. Bitcoin’s price recovered sharply above $106,800 when it had touched a six-week low near $98,000 recently. The upturn in prices was commensurate with the ETF inflows, signaling renewed investors’ optimism.
Bitcoin (BTC) ETF inflows hit new highs
Meanwhile, Ethereum-linked ETFs had conflicting dynamics, where VanEck’s EFUT added +$98 million and Grayscale’s ETHE shed -$26.7 million. The diverging trend of flows manifests investors’ caution towards products beyond Bitcoin under the current macro conditions.
Investors then focus on near-term economic announcements, like the US Fed Chair Jerome Powell’s testimonies and the reading on the PCE inflation. These can have an impact on short-term spot directional movement, particularly since Bitcoin trades within a short corridor between the regions of $100,000 and $106,000. In case support for $100,000 breaks down, a pullback towards $93,000 can be observed later on, but continued inflows can offer much-needed support.
Together, the eleven consecutive days of ETF inflow put just over $2.2 billion into Bitcoin funds, a demonstration of persistent institutional demand. The high rates of inflow that have followed have been a demonstration of a broader trend towards Bitcoin adoption as a store of value amidst volatile financial and geopolitical conditions.
