Spot bitcoin ETFs report sixth consecutive day of net inflows

U.S. spot bitcoin exchange-traded funds reported yet another day of total net inflows on Monday, drawing in $241.12 million. This marks the sixth consecutive day of inflows, which is the longest positive streak the funds have seen since mid-March. 

Ark Invest and 21Shares’ spot bitcoin ETF added $68 million worth of funds, followed closely by BlackRock’s IBIT, which saw a net inflow of $66 million, according to data from SoSoValue. Fidelity’s FBTC reported a net inflow of $64 million, while the spot ETF from Bitwise recorded an inflow of $28 million. 

Grayscale’s GBTC, which had seen mostly net outflows until recently, managed to draw in $9 million worth of net inflows. WisdomTree’s BTCW fund added $5 million. 

Combined, the 11 spot bitcoin ETFs saw total net inflows of over $1.18 billion in the past six days. This brought the cumulative total net inflows since January up to $12.87 billion. Nonetheless, overall flows for the 11 ETFs remain significantly lower than their peak in March, The Block’s data dashboard showed.

RELATED INDICES

Meanwhile, the price of bitcoin rose 6.35% in the past 24 hours to above $71,000, according to The Block's price page . Bloomberg ETF analysts Eric Balchunas and James Seyffart have said the chances of the U.S. Securities and Exchange Commission approving spot ether ETFs have grown from 25% to 75% .