CME Group reports or other reputable financial market sources

Bitcoin ETFs See Record 19 Days of Inflows, $1.83 Billion in a Week

Jun 7, 2024, 06:25 PM

U.S. Bitcoin ETFs have experienced a record-breaking streak of inflows, with 19 consecutive days of positive net inflows. On June 6 alone, spot Bitcoin ETFs saw $217.8 million in net inflows, contributing to a total of $1.83 billion over the past week. BlackRock's Bitcoin ETF has been a significant driver, adding 3,689 BTC on a single day and now holding over 300,000 BTC, worth approximately $21.48 billion. This surge in ETF purchases has coincided with a record high in Bitcoin futures open interest, which reached $37.7 billion. Despite these substantial inflows, Bitcoin's price has remained relatively stable, currently hovering around $71,000. Analysts suggest that the market may be poised for a significant breakout, potentially pushing Bitcoin to new all-time highs in the near future.