Bitcoin ETFs See $588.6 Million Inflow as Institutional Interest Surges

US spot Bitcoin exchange-traded funds (ETFs) recorded their largest single-day inflow for June on Tuesday, with $588.6 million. This surge extended the streak to 11 consecutive days of net positive flows, marking the longest run of consistent inflows since December 2024. The inflows were primarily driven by BlackRock’s iShares Bitcoin Trust (IBIT), which pulled in $436.3 million on Tuesday. Fidelity’s FBTC followed with $217.6 million in new capital, while smaller contributions came from Bitwise and VanEck. In contrast, Grayscale’s GBTC saw continued outflows, shedding $85.2 million.

Over an 11-day stretch starting June 10, Bitcoin (BTC) ETFs have added more than $2.2 billion in inflows, signaling growing institutional interest in the asset class despite geopolitical tensions. The easing of tensions between Israel and Iran, following a ceasefire announcement by US President Trump, provided a significant boost to spot Bitcoin ETFs and the broader crypto markets. Bitcoin's price surged to a daily high of over $106,800, recovering from a recent six-week low near $98,000.

The persistent inflows into spot Bitcoin ETFs highlight Bitcoin's strengthening position as digital gold, with investors seeking stability through scarcity. Vincent Liu, chief investment officer of Kronos Research, noted that Bitcoin is increasingly seen as a resilient refuge in a rapidly shifting geopolitical landscape. Beyond Bitcoin, Ether (ETH)-based ETFs showed mixed performance, with VanEck’s EFUT posting $98 million in inflows, while Grayscale’s ETHE lost $26.7 million.

Despite the ceasefire, market participants remained cautious, awaiting key macroeconomic signals such as Fed Chair Jerome Powell’s congressional testimony and the PCE inflation report. These events are expected to influence the short-term direction of Bitcoin. Until clearer signals emerge, Bitcoin is likely to consolidate between $100,000 and $106,000, with resistance near $106,200 and a potential drop to $93,000 if support at $100,000 fails.