The turnaround started on June 25, following a tough week of consistent net outflows across nearly all funds. 

On that day, per data from Farside Investors, spot Bitcoin ETFs in the U.S. recorded $31 million in net inflows, with Fidelity’s FBTC leading the charge with $48.8 million in inflows, followed by the Bitwise Bitcoin ETF (BITB) with $15.2 million. The VanEck Bitcoin Trust (HODL) also reported $3.5 million in net inflows.

The rest of the funds largely stayed neutral, except for Grayscale’s GBTC, which faced significant net outflows of $30.3 million. However, on June 26, GBTC saw its first positive inflow since June 5, as the ETFs collectively registered a net inflow of $21.4 million. 



Once again, Fidelity and VanEck saw gains, respectively, bringing in $18.6 million and $3.4 million worth of BTC. ARK Invest and 21Shares’ ARKB was the worst-performing fund on June 26, recording nearly $5 million in net outflows.

On June 27, the net inflows were much lower than the previous two days, with the spot Bitcoin ETFs raking in about $11.8. The activity was spread across five funds, with Bitwise responsible for the highest inflow at $8 million. Fidelity also had another positive day, recording $6.7 million in net inflows. 

Invesco Galaxy’s BTCO fund also had a positive inflow of $3.1 million after two consecutive days of zero net flows. The same was replicated on the Franklin Bitcoin ETF (EZBC), which saw $3.6 million coming in following two days of no net flows.

GBTC, however, fell back into net outflows, losing about $11.4 million worth of Bitcoins.

On June 28, Bitcoin spot ETFs saw a total inflow of $73 million. Grayscale’s GBTC experienced more outflows of about $27.2 million, while BlackRock’s IBIT saw a one-day inflow of $82.4 million. ARKB also had a good day, recording inflows of $42.8 million.

The rest of the funds saw no net flows despite a substantial daily trading volume of $1.31 billion, according to SoSoValue.

To date, the 11 spot Bitcoin ETFs have attracted a total net inflow of over $14.5 billion since their launch in January 2024. This surge in ETF investments has been a major driver of Bitcoin’s record-breaking growth this year.

However, in the week that the positive flows happened, the cryptocurrency’s price dipped by more than 5%, possibly influenced by the upcoming repayments to Mt. Gox creditors, which could add selling pressure to the market.

At the time of writing, BTC was priced at $60,862.07 and had a market capitalization of $1,200,201,471,649, according to CoinGecko.

The price represented a 1.2% drop over the last 24 hours, meaning it was underperforming the global crypto market which was also down 3.6%.

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