Spot bitcoin ETFs report sixth consecutive day of net inflows

U.S. spot bitcoin exchange-traded funds reported yet another day of total net inflows on Monday, drawing in $241.12 million. This marks the sixth consecutive day of inflows, which is the longest positive streak the funds have seen since mid-March. 

Ark Invest and 21Shares’ spot bitcoin ETF added $68 million worth of funds, followed closely by BlackRock’s IBIT, which saw a net inflow of $66 million, according to data from SoSoValue. Fidelity’s FBTC reported a net inflow of $64 million, while the spot ETF from Bitwise recorded an inflow of $28 million. 

Grayscale’s GBTC, which had seen mostly net outflows until recently, managed to draw in $9 million worth of net inflows. WisdomTree’s BTCW fund added $5 million. 

Combined, the 11 spot bitcoin ETFs saw total net inflows of over $1.18 billion in the past six days. This brought the cumulative total net inflows since January up to $12.87 billion. Nonetheless, overall flows for the 11 ETFs remain significantly lower than their peak in March, The Block’s data dashboard showed.

Meanwhile, the price of bitcoin rose 6.35% in the past 24 hours to above $71,000, according to The Block's price page. Bloomberg ETF analysts Eric Balchunas and James Seyffart have said the chances of the U.S. Securities and Exchange Commission approving spot ether ETFs have grown from 25% to 75%.