Bitcoin ETFs See $2.92 Billion Inflows in June Amid Price Stability

BlackRock's IBIT, along with Fidelity's FBTC and Ark's ARKB, experienced substantial inflows on June 24 and June 25, with a combined $1.14 billion entering these products. Notably, ARKB saw an unusual $70.2 million inflow on June 25, marking its second-largest daily inflow for the month. This surge indicates a renewed interest from institutional investors following a period of weak flows.

The inflows into spot Bitcoin ETFs were particularly robust, with a total of $2.92 billion in net inflows between June 23 and June 30. This eight-day streak was the strongest since mid-May, suggesting a resurgence in investor confidence. The stability in Bitcoin's price, which moved from $105,415 on June 23 to a closing high of $108,382 on June 29 before retreating slightly to $107,210 on June 30, likely contributed to this renewed interest. The low volatility and rising support around $107,000 provided a stable environment for ETF allocations.

June 27 was a standout day with nearly $500 million in inflows, driven by significant daily inflows above $150 million from BlackRock and Fidelity. Meanwhile, Grayscale’s GBTC continued to experience outflows, although these were limited to $8 million or less per day, a stark contrast to the hundreds of millions seen in previous months. This trend suggests that ETF rebalancing may be reaching maturity, with capital flowing more directly into low-fee issuers rather than migrating from legacy trusts.

The broader macro context also played a role in the inflows, with a relatively calm funding rates and a subdued derivatives market. This environment helped steer attention back to ETFs as a more straightforward proxy for directional bets. The combination of stable prices and strong flows reinforces the growing role of spot ETFs as a barometer of investor sentiment and macro positioning. With June now closed, July begins with ETFs holding over $48.9 billion in assets, highlighting the continued strength and stability of the Bitcoin ETF market.