Spot Bitcoin ETF Flows Return to Positive Territory

The 11 funds tracking bitcoin's price have generated inflows for five straight days amid sluggish trading.

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ETF.com
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Contributing Editor
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Reviewed by: etf.com Staff
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Edited by: Ron Day

Spot bitcoin ETFs are again pulling in cash steadily from investors, generating daily inflows for five consecutive days including Monday's $129.5 million take.

That was the highest one-day mark since June 12 for the 11 spot bitcoin exchange-traded funds that have brought in $270 million over the five-day period, according to data from U.K.-based asset manager Farside Investments. The gains, while small compared with the billions that have poured in since the funds' January approval, have come as inflation appears to slow and bitcoin's price stabilized after a late June tumble. 

The Fidelity Wise Origin Bitcoin Fund (FBTC) led flows Monday with $65 million, followed by the Bitwise Bitcoin ETF BITB, which added more than $41 million in investment. 

etf.com: FBTC three-month flows

The investment was a reversal from the latter part of June when outflows totaled more than $1.3 million. 

"US #Bitcoin ETF flows have mostly stagnated," wrote Bloomberg ETF Analyst James Seyffart in an X post Tuesday. "Not seeing tons of inflows, not seeing tons of outflows." 

Although he noted that total inflows remained a "very healthy $14.7 billion for the 11 funds that began trading earlier this year," Seyffart added that daily "trading volume for the group is definitely on a downtrend. The group hasn't hit $3 billion since mid May."

The BlackRock Bitcoin Trust (IBIT), which has led the spot ETF inflow derby by a wide margin in the six months since the first funds listed, registered zero inflows on Monday and has garnered a tepid $124 million since June 10, about the time that bitcoin's price started to tail off dramatically. 

The Grayscale Bitcoin Trust (GBTC), which is now neck-and-neck with IBIT for most assets, also had zero flows. 

Bitcoin was recently trading near $62,000 after dipping below $59,000 at one point last month, according to crypto markets data provider CoinMarketCap. 

James Rubin is a contributing editor for etf.com, where he produces the Morning Exchange and Weekly Exchange newsletters. A longtime financial writer, editor and book author, he formerly held positions as a news and markets editor for the Americas at CoinDesk, where he focussed on cryptocurrencies. 

He provided editorial guidance for a Wall Street Journal best-selling book on Bitcoin and oversaw a startup newsroom focused on digital financial assets. He has edited for TheStreet and Unchained, where he wrote daily news stories about the trial of fallen crypto entrepreneur Sam Bankman-Fried. His writing has also appeared in The Hollywood Reporter, Forbes.com, AdWeek, Bankrate, The Financial Brand and The Wall Street Journal. He has also written for Forbes Insights and the Economist Intelligence Unit, including papers presented at World Economic Forums in Davos and Mumbai. 

James is the co-author of The Urban Cyclist’s Survival Guide (Triumph Books) and has been interviewed about bike safety on a number of NPR affiliates. In a prior career, Rubin was a world-ranked tennis player, once competing in Wimbledon’s qualifying rounds. He speaks fluent German and is a graduate of the Columbia University Graduate School of Journalism and received his BA at Columbia University.