Bitcoin

Spot

Grayscale Bitcoin Trust

Spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="">BTC</a>) exchange-traded funds (<a href="https://crypto.news/learn/what-is-bitcoin-etf-and-which-companies-applied-for-it-in-the-us/" rel="">ETFs</a>) in the U.S. have started their fourth consecutive week with positive gains while BTC consolidates. 
According to <a href="https://farside.co.uk/?p=997" target="_blank" rel="">data</a> provided by Farside Investors, spot BTC ETF products in the U.S. recorded $105.1 million in inflows on June 3 — making a positive entrance into the fourth straight week.&nbsp; 
The majority of the inflows came from Fidelity Wise Origin Bitcoin Fund (FBTC), worth $77 million. Bitwise Bitcoin ETF (BITB) and ARK 21Shares Bitcoin ETF(ARKB) registered $14.3 million and $10.7 million inflows, respectively. 
Moreover, VanEck Bitcoin Trust ETF (HODL) and WisdomTree Bitcoin Fund (BTCW) had a smaller share of the inflows, recording $2 million and $1.1 million in net inflows, respectively.&nbsp; 
The largest BTC ETF, iShares Bitcoin Trust (IBIT), with over $16.65 billion in net inflows since the launch of the investment products in the U.S., remained neutral on June 3. Grayscale Bitcoin Trust (GBTC) also had $0 net flows. 
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Notably, Bitcoin ETFs have been consistently recording positive net flows since May 10 with only one day of <a href="https://crypto.news/spot-btc-etfs-recorded-0-inflows-bitcoin-price-drops/" rel="">$0 cumulative flows</a> on May 27.&nbsp; 
This is the second-longest positive run, 16 days, for the BTC ETFs in the U.S. — the products witnessed 18 days of consistent inflows between Jan. 26 and Feb 20. 
<h2 class="wp-block-heading" id="bitcoin-s-reaction">Bitcoin’s reaction</h2> 
Bitcoin has been mostly consolidating between $68,800 and $69,300 over the past day. The flagship cryptocurrency briefly touched a seven-day high of $70,230 at around 13:50 UTC on June 3. 
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 <img loading="lazy" decoding="async" width="1024" height="545" src="https://crypto.news/app/uploads/2024/06/Screenshot-2024-06-04-114757-1024x545.png" alt="Spot BTC ETFs start 4th consecutive week with positive inflows - 18"> 
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 BTC price – June 3 | Source: Trading View
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The BTC price declined by 0.11% in the past 24 hours and is trading at $69,020 at the time of writing. The asset’s market cap is sitting at $1.36 trillion, with a 50.4% dominance over the whole cryptocurrency market. 
Data shows that Bitcoin’s daily trading volume surged by 30%, reaching $29.5 billion.&nbsp; 
 Read more: <a href="https://crypto.news/brett-memecoin-hits-1-billion-market-cap/" rel=""> BRETT memecoin hits $1b market cap </a>

Spot BTC ETFs start 4th consecutive week with positive inflows

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