U.S. Bitcoin (BTC) exchange-traded funds (ETFs) saw an inflow of $131 million on June 7, marking 19 consecutive days of positive inflows.
This happened even as the ARK 21Shares Bitcoin ETF (ARKB) saw net outflows totaling 1,364 worth about $96.84 million, leaving its total holdings at 48,939 BTC, or $3.47 billion.
According to Lookonchain, 3,689 bitcoins, equivalent to $261.91 million, were added across nine different ETFs on June 7.
This influx was primarily driven by BlackRock, which added 4,896 BTC worth $347.61 million to its holdings, bringing its total to 302,540 BTC worth $21.48 billion.
These inflows indicate strong investor confidence, particularly in BlackRock's and Fidelity's products, which has overshadowed outflows from ARK 21Shares. Valkyrie Bitcoin Fund (BRRR) remained neutral on July 7, while Franklin Bitcoin ETF (EZBC) also recorded zero net inflows.
Over a seven-day period, BlackRock enjoyed the best performance of all Bitcoin ETFs, recording a net inflow of 13,482 BTC in the period.
The Fidelity Wise Origin Bitcoin Fund (FBTC) came in second. I was able to withdraw 9,729 Bitcoins with a market value of more than $671 million.
In third place was ARKB. Despite yesterday's decline, it still managed a seven-day net inflow of 1,764 BTC worth an estimated $121 million.
Other ETFs, including the VanEck Bitcoin Trust ETF (HODL) and Valkyrie Bitcoin Fund, contributed smaller amounts, with net weekly inflows of $7.7 million and $1.5 million, respectively.
After the week's activities:
- BlackRock remains the largest Bitcoin (BTC) ETF with over $21 billion worth of Bitcoin.
- Followed by the grayscale with 285,651 Bitcoin worth about 19.7 billion
- Fidelity's Bitcoin holdings are worth around $12 billion.
Since the introduction of Bitcoin ETFs in the US in January, the total Bitcoin holdings of these funds have now exceeded 880,000 BTC, worth more than $62 billion.
Despite these ETF inflows, Bitcoin's price has remained relatively stable, ranging between $68,856 and $69,544 over the past day, per Data From Queen Gekko.
As shown in the chart above, Bitcoin saw a slight decline of 0.9% over the past 24 hours, trading at $69,465, with a market cap of $1.36 trillion. Its market control is about 51.1%.
The slight decline in Bitcoin's price was accompanied by a larger decline in daily trading volume, which fell by 34.81% to $20.9 billion.
