Bitcoin ETFs See $5 Billion Inflows in 15 Days, BlackRock's IBIT Leads

Spot Bitcoin ETFs have maintained a streak of positive inflows for 15 consecutive days, with investors injecting nearly $5 billion into these funds during this period. This sustained inflow is a testament to the growing interest and confidence in Bitcoin as an investment asset. The streak, which began on June 15, has seen a total of $4.7 billion in net inflows, with the most recent addition of $102.1 million bringing the total to nearly $5 billion.

BlackRock's IBIT has been the standout performer among the U.S. spot Bitcoin ETFs, attracting $112.3 million in net inflows on the last day of June alone. This significant inflow has pushed IBIT’s total net inflows to $52.421 billion, solidifying its position as the dominant fund in terms of cumulative inflows since the products launched in January 2024. IBIT was also the only U.S. spot Bitcoin ETF to record positive net outflows yesterday, while investors withdrew $10.2 million from Ark Invest’s ARKB fund on the same day.

The strong inflows into Bitcoin ETFs have contributed to Bitcoin closing its June monthly candle at a record high. Renowned crypto analyst Rekt Capital noted that Bitcoin has technically confirmed a breakout from its Monthly Range. This positive trend is expected to continue, provided there is sufficient "buy-side" volume entering the leading crypto’s order books. Until then, there could be some retests of key support levels to fuel the next uptrend. Michael van de Poppe, another prominent analyst, echoed this sentiment, advising his followers that any dips in Bitcoin’s price present buying opportunities.

The net inflow streak of U.S. spot Bitcoin ETFs has been a significant development, with the total reaching nearly $5 billion in just 15 trading days. This is a notable achievement, especially considering the initial predictions that the top end for the U.S. spot Bitcoin ETFs in year one would be $5 billion. The U.S. spot Bitcoin ETFs have now received $49.3 billion in cumulative net inflows since their debut in January 2024 and $13.8 billion year-to-date, with nearly $128 billion in assets now under management amid the concurrent price rise.

While the pace of ETF inflows has slowed slightly, with Monday's net inflows representing a decrease from the $501.2 million added on Friday, the medium-term signals for Bitcoin remain bullish. Corporate treasuries are accelerating their accumulation pace, which could provide the necessary catalysts for Bitcoin to break through the $110K mark in the future. However, the slowing pace of inflows suggests a cooling in short-term institutional enthusiasm, raising doubts about Bitcoin's ability to reach new all-time highs above $112,000 in the near term.