![US Bitcoin ETFs See Fourth Day of Outflows, Totaling 2M US Bitcoin ETFs See Fourth Day of Outflows, Totaling 2M](https://static.news.bitcoin.com/wp-content/uploads/2024/06/floatss20200-768x432.jpg)
In the first full trading week of June, U.S. Bitcoin ETFs acquired almost as much Bitcoin as they did in the entire month of May.
Spot Bitcoin exchange-traded funds (ETFs) in the United States acquired the equivalent of around two months’ worth of the cryptocurrency’s mining supply in the first week of June.
With inflows of approximately $1.83 billion, the 11 ETFs bought 25,729 Bitcoin (BTC) in the trading week between June 3 and 7 — around eight times more than the 3,150 new BTC mined over the same time, according to data from HODL15Capital.
The amount of Bitcoin acquired in the week alone was almost as much as the entire of May, 29,592 BTC, per HODL15Capital’s count, and is the biggest week of buying since mid-March when Bitcoin hit its current all-time high of $73,679.
Fidelity’s Bitcoin fund led the pack with $378.7 million in net inflows on the U.S. spot Bitcoin ETFs second-highest joint net inflow day, according to preliminary data.
United States-based spot Bitcoin exchange-traded funds (ETFs) saw their second-best-ever joint net inflow day of $886.6 million, according to preliminary data.
The Fidelity Wise Origin Bitcoin Fund (FBTC) saw the largest inflow at $378.7 million, while BlackRock’s iShares Bitcoin Trust (IBIT) was second with $274.4 million, according to early data from Farside Investors.
The ARK 21Shares Bitcoin ETF (ARKB) was the third-best performer with $138.7 million in net inflows, Farside data shows.
However, the impressive flows from BlackRock’s IBIT and Fidelity’s FBTC haven’t been enough to gain on the leading ETF asset manager by total flows, Vanguard.
BlackRock and Fidelity’s spot Bitcoin exchange-traded funds (ETFs) have accounted for a significant share of the issuers’ total ETF inflows this year.
The Bitcoin ETFs amount to 26% and 56% in year-to-date inflows for BlackRock and Fidelity respectively, according to Bloomberg ETF analyst Eric Balchunas, citing data from Bloomberg Intelligence.
BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC) have seen $16.6 billion and $8.9 billion in inflows since they launched nearly five months ago, according to Farside Investor data.