Bitcoin

Million

Spot

<ul class="list-ic vertical">
 <li><span>1</span> <a>Spot Bitcoin ETFs showcased an outstanding performance and recorded $130.99 Million in total net inflow daily.&nbsp;</a></li>
 <li><span>2</span> <a>BlackRock ETF played a significant role in the net inflow hike, documenting $168 Million in one-day inflow.</a></li>
 <li><span>3</span> <a>Grayscale ETF hit a high in terms of one-day outflow and stood at&nbsp; $36.3411 Million.&nbsp;&nbsp;</a></li>
</ul>
<p>On June 7, the total net inflow of<strong> spot Bitcoin ETFs </strong>was recorded at $130.99 Million, with over $15.69 Billion in cumulative total net inflow. <strong>BlackRock ETF IBIT</strong> acted as a catalyst and documented a single-day net inflow of $168 Million.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
<h2 class="wp-block-heading" id="strong-spot-bitcoin-etfs-outstanding-performance-strong"><strong>Spot Bitcoin ETFs’ Outstanding Performance</strong></h2>
<p>Wu Blockchain highlighted the outstanding <strong>spot Bitcoin ETF</strong> performance on June 7. The daily total net inflow was recorded at $130.99 Million, $15.69 Billion in cumulative total net inflow, and $2.54 Billion in total traded value.&nbsp;</p>
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  <p lang="en" dir="ltr">On June 7, the total net inflow of Bitcoin spot ETFs was $131 million. Grayscale ETF GBTC had a single-day outflow of $36.3411 million, and BlackRock ETF IBIT had a single-day inflow of $168 million. The total net asset value of Bitcoin spot ETFs is $61.104 billion.… <a href="https://t.co/dMd5trdYjS" rel="noopener noreferrer nofollow">pic.twitter.com/dMd5trdYjS</a></p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1799292093925658881?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 8, 2024</a>
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<p>Since the launch date, spot Bitcoin ETF has held a market cap of $62.87 Billion and $54.35 Billion in total assets under management (AUM).&nbsp;&nbsp;</p>
<p>IBIT and <strong>Ark Investment ETF (ARKB)</strong> played a crucial role in booming the single-day net inflow. IBIT documented a one-day net inflow of $168 Million and $18 Billion in cumulative net inflow.</p>
<p>ARKB, alternatively, recorded a net inflow of $7 Million and $3 Billion in cumulative net inflow on June 7. It showcases that investors and traders are investing more in IBIT and ARKB than other ETFs.</p>
<p>Grayscale, another prominent <strong>spot Bitcoin ETF</strong> provider, registered a net outflow of $36 Million and $18 Billion in cumulative net outflow on the same day. Investors are selling their <strong>Grayscale ETF (GBTC)</strong> shares, indicating a decline in investor interest in GBTC.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
<h3 class="wp-block-heading" id="strong-comparison-of-grayscale-blackrock-etfs-strong"><strong>Comparison of Grayscale &amp; BlackRock ETFs</strong></h3>
<p>Grayscale and BlackRock are two prominent players in the spot <a href="https://www.thecoinrepublic.com/2024/06/07/bitcoin-could-reach-75k-this-month-heres-a-june-month-outlook/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETF,</a> holding over $320.76 Million and $522.68 Million in shares outstanding, respectively. IBIT has shown an effective performance when compared to GBTC.</p>
<p>According to Coinglass data, <strong>IBIT</strong> was currently trading at $39.42 with a market cap of $20.60 Billion and $1.43 Billion in volume. Since the day of <strong>spot Bitcoin ETF</strong> approval, IBIT has recorded an outflow of $38.68 Million on May 1 and $3.06 Million on May 7.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="463" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-95-1024x463.png" alt="Bitcoin" class="wp-image-208178" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-95-1024x463.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-95-300x135.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-95-768x347.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-95-750x339.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-95-1140x515.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-95.png 1231w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div>
<p class="has-text-align-center">IBIT Net Inflow I Source: Coinglass&nbsp;</p>
<p>In addition, BlackRock recorded highs in new inflow with $856.53 Million on March 12, showcasing investors’ interest in IBIT shares purchase.&nbsp;&nbsp;&nbsp;</p>
<p>At press time, GBTC was trading at $61.48 with a market cap of $19.72 Billion and $429.75 Million in volume. Additionally, <strong>GBTC</strong> rarely experienced net inflows, with the highest new inflow of $64.11 Million on May 6.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="454" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-96-1024x454.png" alt="Bitcoin" class="wp-image-208179" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-96-1024x454.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-96-300x133.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-96-768x341.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-96-750x333.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-96-1140x506.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-96.png 1222w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
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<p class="has-text-align-center">GBTC Net Inflow I Source: Coinglass</p>
<p>The red lines in the graph indicate a high rate of the daily net outflow, with $618.16 Million documented on March 19. Investors are withdrawing their investments from GBTC, and higher share prices could be one of the major reasons.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
<h3 class="wp-block-heading" id="strong-spot-bitcoin-etfs-history-bitcoin-performance-strong"><strong>Spot Bitcoin ETFs History &amp; Bitcoin Performance&nbsp;</strong></h3>
<p><strong>Spot Bitcoin ETFs</strong> of 11 companies were authorized by the Securities and Exchange Commission (SEC) on January 10. It helped investors and traders trade the BTC asset on exchanges without making an actual asset purchase.&nbsp;&nbsp;</p>
<p>At press time, BTC was hovering at $69,410.32 after an intraday drop of 2.53% and a $1,368,122,976,861 market cap.&nbsp;&nbsp;&nbsp;</p>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>The analysis given above is for informational and educational purposes only. You should not take it as financial, investment, or other advice. Investing in or trading crypto assets is risky. Please consider your circumstances and risk profile before making any investment decisions.</p>

Spot Bitcoin ETFs Net Inflow is Hitting High; Who is the Catalyst?

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