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. 
 You might also like: <a href="https://crypto.news/roar-spikes-300-following-roaring-kittys-gamestop-announcment/" rel=""> ROAR spikes 300% following Roaring Kitty’s GameStop announcement </a> 
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. 
<figure class="wp-block-image size-large">
 <picture loading="lazy" decoding="async" class="wp-image-14277411"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/06/Screenshot-2024-06-04-114757-1024x545.png.webp"> 
 <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"> 
 </picture> 
 <figcaption class="wp-element-caption">
 BTC price – June 3 | Source: Trading View
 </figcaption>
</figure> 
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

Table of Contents

crypto.news

Other articles published on Jun 4, 2024

The Top Crypto Presale in 2024, MoonBag, Lures LINK & MATIC Investors with Bullish Run & 15,000% ...

ICON CEO J Bradley Hall to Showcase Innovative AU Backed Digital Currency AUREALS™ at October BRI...

Whale scooped $26.7M in ETH after $76.6M profit amid market surge

Most Investors Should Dedicate a Portion of Their Portfolio to Bitcoin, Suggests Fidelity Executive

Solana ETFs Could Spark SOL Meme Coin Surge, Says Expert

Shiba Inu Token Burn Rate Excites Altcoin Investors

Join our free newsletter for daily crypto updates!