Bitcoin ETFs in the U.S. - Market Trends

Spot Bitcoin exchange-traded funds (ETFs) in the U.S. have embarked on their fourth consecutive week with positive gains while BTC stabilizes. Farside Investors' data reveals that spot BTC ETF products in the U.S. attracted $105.1 million in inflows on June 3, marking a positive start to the fourth straight week.

The majority of inflows were channeled into Fidelity Wise Origin Bitcoin Fund (FBTC), totaling $77 million. Bitwise Bitcoin ETF (BITB) and ARK 21Shares Bitcoin ETF (ARKB) recorded inflows of $14.3 million and $10.7 million respectively. VanEck Bitcoin Trust ETF (HODL) and WisdomTree Bitcoin Fund (BTCW) received lower inflows, registering $2 million and $1.1 million in net inflows individually.

iShares Bitcoin Trust (IBIT), the largest BTC ETF with over $16.65 billion in net inflows since the U.S. investment product launch, maintained a neutral stance on June 3. Meanwhile, Grayscale Bitcoin Trust (GBTC) exhibited $0 net flows.

Bitcoin ETFs have consistently shown positive net flows since May 10, with only one day of $0 cumulative flows observed on May 27. This marks the second-longest positive streak of 16 days for the U.S. BTC ETFs, following a prior 18-day period between Jan. 26 and Feb. 20 with continuous inflows.

Bitcoin's Market Performance

The BTC price has mostly consolidated in the range of $68,800 to $69,300 in recent days. The leading cryptocurrency briefly touched a seven-day high of $70,230 around 13:50 UTC on June 3.

BTC Price on June 3 | Source: Trading View

The BTC price saw a slight 0.11% decrease in the last 24 hours, currently standing at $69,020. The asset's market cap is at $1.36 trillion, holding a 50.4% dominance in the cryptocurrency market.

Data indicates Bitcoin's daily trading volume spiked by 30%, reaching $29.5 billion.