Bitcoin ETF Net Inflow Hits $105M on June 3, 2024

By Kester Odero

June 4, 2024 1:00 PM

Bitcoin News

Bitcoin ETF Net Inflow Hits $105M on June 3, 2024

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1. Australia Launches First Spot Bitcoin ETF

The Bitcoin ETF market saw a significant net inflow of $105 million on June 3, 2024, marking the 15th consecutive trading day of positive inflows. Fidelity’s *BTC* ETF (FBTC) recorded the highest inflow of the day with $77 million. This substantial contribution played a pivotal role in the overall positive net inflow.

🚨 $BTC #ETF Net Inflow June 3, 2024: +$105M!

• The net inflow has been positive for 15 consecutive trading days.

• Both #Grayscale (GBTC) and #BlackRock (IBIT) experienced the single-day net flow of $0.

• The highest inflow of the day belonged to #Fidelity (FBTC) with… pic.twitter.com/z9ILgWNk6Z
— Spot On Chain (@spotonchain) June 4, 2024

Grayscale (GBTC) and BlackRock (IBIT) experienced a zero net flow, indicating stable positions for these significant ETFs. Despite this, the overall market sentiment remains positive.

Australia Launches First Spot Bitcoin ETF

Adding to the market’s momentum, Australia’s first spot Bitcoin ETF began trading on June 3, 2024. This ETF, which holds Bitcoin directly, marks a significant development in the global cryptocurrency market, reflecting growing institutional interest and adoption.

BREAKING: 🇦🇺 Australia's first spot #Bitcoin ETF to hold #BTC directly officially begins trading. pic.twitter.com/k4OPyPDm5O
— Bitcoin Magazine (@BitcoinMagazine) June 4, 2024

The consistent positive net inflows into Bitcoin ETFs and the introduction of new ETFs like the one in Australia suggest a strong and sustained interest in Bitcoin among institutional investors. This trend will likely influence Bitcoin’s market dynamics in the coming months.

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BTC ETF

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AUTHOR

Kester Odero

Kester is an experienced freelance content writer. His focus is primarily on blockchain technology and cryptocurrency. One might even refer to him as a "blockchain enthusiast." He has been following advancements in the crypto and blockchain area for several years, researching and writing his insights in the media. In addition to being a skilled content writer, Mushumir is also knowledgeable in SEO and digital marketing. He aspires to succeed as a content creator in the digital realm, dealing with customers in the finance and tech industries to generate traffic through engaging taglines and content. Mushumir enjoys traveling, reading, and playing cricket when he is not writing. He now works as a news and article writer for BlockchainReporter.

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