The eleven funds collectively received a total of $217.78 million, with the majority of that amount going to IBIT, the largest spot bitcoin ETF managed by BlackRock. According to SoSoValue, IBIT saw a significant influx of $350 million in net inflows on Thursday. While Fidelity and VanEck also experienced net inflows into their bitcoin exchange-traded funds, the amounts were lower compared to BlackRock’s.
On the other hand, ARKB, managed by Ark Invest, recorded net outflows of $96.6 million, making it one of the biggest outflows from the ETF. Additionally, Grayscale’s GBTC and Bitwise’s BITB saw net outflows of $37.5 million and $3 million respectively. There were no transactions reported for the other five spot bitcoin ETFs, including BTCO owned by Invesco.
Despite the recent outflows, the eleven spot bitcoin ETFs have accumulated a total of $15.56 billion in capital since their launch in January. Data indicates that the flow volume has rebounded from a slowdown in April and May, although it remains below the peak in March.
Bitcoin enthusiasts are working tirelessly to push the price above $73,000, with the current trading price at $71,886, reflecting a 1.02% increase in the last 24 hours based on CMC data at the time of publication. Amidst the ongoing market battle between bullish and bearish sentiments, Bitcoin’s price is experiencing heightened volatility. Nonetheless, analysts predict that BTC may resume its upward trend in the near future.
In other crypto news today, CryptoHeap has observed a significant surge in ‘re-staking’ activity following major enhancements.