On June 3, 2024, the Bitcoin ETF market experienced a noteworthy net inflow of $105 million, marking the 15th consecutive day of positive inflows. Fidelity’s ETF (FBTC) led the way with the highest inflow of the day, totaling $77 million. This significant contribution played a crucial role in the overall positive net inflow.
Notably, both Grayscale (GBTC) and BlackRock (IBIT) had a net flow of $0, indicating stable positions for these prominent ETFs. Despite this, the overall market sentiment remains positive.
Adding to the market’s momentum, Australia launched its first spot Bitcoin ETF on June 3, 2024. This ETF directly holds Bitcoin, representing a significant development in the global cryptocurrency market. It reflects the growing institutional interest and adoption of Bitcoin.
The consistent positive net inflows into Bitcoin ETFs and the introduction of new ETFs, such as the one in Australia, suggest a strong and sustained interest in Bitcoin among institutional investors. This trend is likely to influence Bitcoin’s market dynamics in the coming months.