Bitcoin ETFs See 13-Day Inflow Streak 2.9 Billion

U.S. spot Bitcoin exchange-traded funds (ETFs) have experienced an unprecedented 13 consecutive days of inflows, accumulating over $2.9 billion. This streak, the longest since December 2024, has been driven by significant institutional interest, particularly through treasury and over-the-counter (OTC) channels. The largest single-day inflow for June was recorded on Tuesday, amounting to $588.6 million, with a total of $1.2 billion flowing into these ETFs this week alone.

Leading the inflows was BlackRock’s IBIT with $163.7 million on Thursday, followed by Fidelity’s FBTC at $32.9 million and Bitwise’s BITB with $25.2 million. Other major funds, including Ark’s ARKB and Invesco’s BTCO, reported more modest inflows, while Grayscale’s GBT and several smaller ETFs saw minimal activity. This sustained inflow indicates a growing institutional appetite for crypto investment products, with ETF managers increasingly executing purchases through OTC channels to minimize price impact.

Peter Chung, head of research at Presto Labs, noted that ETF flows are primarily driven by long-only fundamental investors rather than basis arbitrage traders, given the current market conditions. Despite Bitcoin (BTC) trading sideways near $107,374, down 0.4% over the past 24 hours, the inflows into Bitcoin ETFs have remained robust. On-chain data suggests that short-term holders have been selling aggressively, which may be contributing to the sideways price movement.

While Bitcoin continues to attract institutional capital, there is growing momentum around the approval of other digital asset ETFs. Revised filings for Dogecoin and Aptos ETFs, along with rule changes from Bitwise, signal a more favorable regulatory environment. Analysts predict a high probability of approval for ETFs related to Solana, XRP, and Litecoin, with a 90% chance for Dogecoin authorization. This optimism reflects a significant shift in the regulatory landscape, with more consistent engagement from the U.S. Securities and Exchange Commission compared to the Bitcoin ETF approval process.

Since the launch of Bitcoin ETFs 18 months ago, they have attracted over $40 billion in investments. This trend highlights a shift from retail to institutional investment in Bitcoin, with institutions increasingly buying while retail investors sell. However, some investment professionals caution that ETF inflows may be overstated, with real buying occurring through treasury programs and structured products. This suggests that the actual demand for Bitcoin may be even higher than the reported inflows indicate.