As of June 26th, the collective fund inflow for the US spot Bitcoin ETF reached $21.52 million, indicating a slow recovery for the ETF and continuing the positive momentum that started on Tuesday.
However, the iShares Bitcoin Trust (IBIT) by BlackRock has not reported any new investments in the past four days. This is not the longest stretch of no inflows for the fund, as back in April, the fund went five consecutive days without any fund inflows.
It is important to note that BlackRock’s activity has been on a downward trend, with only two small fund inflows below $2 million since June 14th.
As ETF analyst James Seyffart previously explained, when supply and demand are balanced, ETFs will experience zero flow, which does not promote the creation or redemption of shares.
However, the lack of fund inflows does not necessarily mean there is no trading activity, but rather that the net flow is not enough to warrant adjustments to shares.
Other US spot Bitcoin ETFs, such as Bitwise’s BITB, VanEck and Galaxy Digital’s BTCO, and Valkyrie’s BRRR, also experienced similar zero flow fate on the same day.
In contrast, according to SoSoValue data, Fidelity’s FBTC saw the largest net inflow of the day, reaching $19 million. The fund had seen outflows for 7 consecutive days from June 13th to 24th, but this trend reversed after June 26th, leading the US spot Bitcoin ETFs after breaking the streak of continuous declines.
Grayscale’s GBTC has not seen positive flow since June 5th, but yesterday it attracted over $4 million.
Since their launch in January, these investment tools have attracted a net inflow of $14.44 billion.