The eleven funds received a combined net of $217.78 million, with the bulk of that sum going to the biggest spot bitcoin ETF by net assets, BlackRock’s IBIT. SoSoValue reports that IBIT received $350 million in net inflows on Thursday. Net inflows to bitcoin exchange-traded funds (ETFs) from Fidelity and VanEck were fewer than those from BlackRock, but they still occurred. However, among the biggest outflows from the ETF, Ark Invest’s ARKB had net outflows of $96.6 million. There were $37.5 million in net outflows for Grayscale’s converted GBTC and $3 million for Bitwise’s BITB. No transactions occurred Thursday in the other five spot bitcoin ETFs, including BTCO, which is owned by Invesco.
Bitcoin Bulls Striving Hard
As of their most recent run of net inflows, the eleven spot bitcoin ETFs have received $15.56 billion in capital since they began trading in January. Data shows that the volume of flows seems to have recovered from an impasse in April and May, albeit it is still lower than the high in March.
Bitcoin bulls are striving hard to push the price above $73,000. The price is trading at $71,886, up 1.02% in the last 24 hours as per data from CMC at the time of writing. Amidst the ongoing battle between bulls and bears, the price of Bitcoin is facing high volatility. However, according to analysts, BTC may resume its bullish climb in the near future.
