The US spot Bitcoin ETFs appear to be slowly recovering as the collective inflows reached $21.52 million on June 26th, continuing with the positive momentum that began on Tuesday.
However, BlackRock’s iShares Bitcoin Trust (IBIT) has not reported any new investments for the past four days. This isn’t its highest streak, though, as in April, the fund recorded five straight days of no inflows.
It is important to understand that BlackRock’s activity has been on a downtrend, with only two minor inflows since June 14, both under $2 million.
Zero flows in an ETF occur when the supply and demand balance out, thereby not promoting the creation or redemption of shares, as previously explained by Bloomberg ETF analyst James Seyffart.
This lack of inflows, however, does not necessarily mean that there’s no trading activity but rather that the net flow isn’t significant enough to require share adjustments.
Other spot Bitcoin ETFs such as BITB by Bitwise, BTCO by Invesco and Galaxy Digital, and BRRR by Valkyrie offerings also experienced a similar fate of zero flows on the same day.
Contrastingly, Fidelity’s FBTC saw the largest net inflows of the day, amounting to $19 million as per SoSoValue data. The fund saw a continuous 7-day streak of outflows from June 13 to 24. This trend has since reversed, with FBTC leading the pack as the spot Bitcoin ETFs broke away from the negative streak on June 26.
Grayscale’s GBTC, which hadn’t seen positive flows since June 5, attracted just over $4 million yesterday.
Since their introduction in January, these investment vehicles have attracted $14.44 billion in net inflows.
The post BlackRock’s IBIT Stays Stagnant Despite Bitcoin ETFs Bounce Back With $21.5M in Inflows appeared first on CryptoPotato.
