Investors Added Money to Bitcoin ETFs Even as Bitcoin Slipped 7% in June
Summary
Spot Bitcoin ETFs saw a net inflow of $790 million in June, despite a 7% drop in Bitcoin's price. BlackRock's iShares Bitcoin Trust (IBIT) led the way with inflows exceeding $1 billion, counterbalancing the significant outflows from the Grayscale Bitcoin Trust (GBTC). This contrasts with April's trend when spot funds experienced large outflows as Bitcoin's price fell by 15%. The positive inflow in June may be due to anticipation of a potential spot Ether ETF, which regulators and potential issuers are actively working towards. Ether ETF issuers are expected to re-submit a crucial filing before July 8, raising hopes that the ETFs will launch this month.
