Bitcoin Spot ETFs Attract Another $105M, Maintaining 15 Consecutive Days of Net Inflows
Bitcoin spot exchange-traded funds (ETFs) saw a net inflow of $105 million recorded on June 3, marking 15 consecutive days of net inflows for these ETFs.
Among the Bitcoin spot ETFs, Fidelity ETF FBTC witnessed a substantial inflow of $77.0482 million, while Bitwise ETF BITB attracted $14.3145 million in inflows.
In contrast, BlackRock’s iShares Bitcoin Trust reported zero inflows and outflows during this period.
Likewise, Grayscale’s Bitcoin Trust ETF (GBTC) observed a net outflow of $0.00 per day.
The sustained net inflows into Bitcoin spot ETFs come as Bitcoin briefly surpassed the $70,000 mark on Monday, marking the first time in a week that it reached such heights.
However, the price retraced to its familiar trading range, continuing its sideways movement.
At the time of writing, Bitcoin was trading at around $69,000, reflecting a 2% increase over the past 24 hours.
Ethereum’s ether (ETH) remained relatively unchanged, hovering just below $3,800.
Bitcoin and the wider cryptocurrency market have been in a consolidation phase for over two months since the leading cryptocurrency reached its all-time high above $73,000 in March.
Analysts from Bitfinex suggest that this correction phase seems to be approaching its end.
Long-term holders selling off their Bitcoin holdings was a significant factor in the correction from the all-time highs.
However, blockchain data indicates that these holders have started accumulating Bitcoin again for the first time since December 2023.
Furthermore, there has been a growing number of new accumulation addresses for both Bitcoin and Ethereum over the past month.
This trend indicates increasing bullish sentiment among investors, despite the price stability observed in recent times. The analysis from
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