In June 2024, Bitcoin-based ETFs exhibited record inflows, attracting investor attention amidst recent geopolitical stability.
Record Inflows into Bitcoin ETFs
On Tuesday, US spot Bitcoin exchange-traded funds recorded their largest single-day inflow for June, totaling $588.6 million. This surge extends the streak to 11 consecutive days of net positive flows, marking the longest run since December 2024.
According to data from Farside Investors, the inflows were primarily driven by BlackRock’s iShares Bitcoin Trust (IBIT), which pulled in $436.3 million on June 24 alone. Fidelity’s FBTC followed with $217.6 million in new capital, while smaller contributions came from Bitwise and VanEck. In contrast, Grayscale’s GBTC saw continued outflows, shedding $85.2 million.
Ceasefire between Israel and Iran
The spot Bitcoin ETFs and broader crypto markets received a significant boost following a ceasefire between Israel and Iran. After US President Trump announced a 'complete and total ceasefire' on Tuesday, markets breathed a sigh of relief. Bitcoin surged to a daily high of over $106,800, climbing from a recent six-week low near $98,000, according to data from CoinMarketCap.
Vincent Liu, chief investment officer of the Taiwan-based company Kronos Research, noted that 'persistent inflows into spot Bitcoin ETFs spotlight the strengthening story of BTC as digital gold. Investors are seeking stability through scarcity.'
Bitcoin's Future Amid Macro Economic Uncertainty
Ray Youssef, CEO of NoOnes, described Bitcoin's recent bounce as a 'relief rally' rather than a true breakout, driven more by stabilization than by renewed investor conviction. He stated that the rebound felt like the market 'exhaling after a period of sustained tension.'
Despite the ceasefire, traders remain cautious amid a heavy macro week. Key upcoming events, including Fed Chair Jerome Powell’s congressional testimony and the PCE inflation report, are expected to heavily influence short-term direction. Until clearer signals emerge, Bitcoin is likely to consolidate between $100,000 and $106,000, with resistance near $106,200 and risk of a drop to $93,000 if support at $100,000 fails.
Thus, the market for Bitcoin ETFs shows signs of sustainable growth amidst geopolitical stability, although traders remain cautious, awaiting key macroeconomic signals.
