Bitcoin exchange-traded funds (ETFs) in the US have been on a roll lately! Since June 9th, they’ve seen a massive influx of cash, with only one day of outflows. Last week was especially huge.
A Record-Breaking Week
The past week saw a staggering $2.72 billion poured into US Bitcoin ETFs. This is the fifth-largest weekly inflow ever! Friday alone saw over $1 billion flow in – the second day in a row with billion-dollar inflows, a first since the ETFs launched in January 2024.
Who Got the Biggest Slice?
BlackRock’s iShares Bitcoin Trust (IBIT) was the star performer, raking in a massive $953.52 million. This further cemented BlackRock’s dominance in the crypto ETF market; IBIT recently became the fastest ETF to reach $80 billion in assets under management.
Other significant players included:
- ARK 21Shares Bitcoin ETF (ARKB): $23.51 million
- Grayscale’s Bitcoin Mini Trust (BTC): $20.93 million
- VanEck’s Bitcoin ETF (HODL): $20.01 million
- Bitwise’s Bitcoin ETF (BITB): $6.41 million
- Invesco’s fund (BTCO): $5.3 million
A few other Bitcoin ETFs saw no net change.
Bitcoin’s Price Soars
This ETF frenzy happened alongside a huge jump in Bitcoin’s price. On the two days with billion-dollar inflows, Bitcoin hit a new all-time high of around $118,700. While the price has dipped slightly since then (around $117,332 at the time of writing), it’s still up over 8% in the last week. It’s clear that the price of Bitcoin and the inflow into these ETFs are closely related.