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U.S. Bitcoin ETFs See Record $3.87 Billion Inflows Over 19 Days, iShares Holds 300,000 BTC

Jun 7, 2024, 12:03 PM

U.S. Bitcoin ETFs have experienced a significant surge in inflows, marking a record-breaking streak of 19 consecutive days. The total net inflows reached $3.87 billion, with $1.8 billion in the past week alone. On June 6, inflows were $1.5 billion, including $488 million in a single day. ETFs bought 6,867 BTC while only 450 were mined. The iShares Bitcoin ETF now holds over 300,000 BTC, representing nearly 1.5% of the total Bitcoin supply. Despite these substantial inflows, Bitcoin's price has remained relatively stagnant, leading to speculation about market dynamics. The inflows have been driven by increased investor confidence and institutional interest, with BlackRock's ETF contributing significantly to the inflows.