Bitcoin funds attracted $887 mln in one day

Bitcoin exchange rate gained ground above $70k amid 16 consecutive days of inflows into ETFs

Capital inflows into U.S. spot exchange traded bitcoin funds totaled $887 million at the end of the June 4 trading session. This is the highest since March and the second highest daily investment inflow in bitcoin fund history. The record inflow of funds into spot bitcoin-ETFs - more than $1 billion - was recorded at the end of the trading session on March 12.

The inflow of funds into bitcoin-ETFs has continued for 16 consecutive days. The total net asset value of 11 U.S. ETFs reached $61.4 billion.

Capital inflows and outflows into bitcoin-ETFs. Source: SoSoValue

The FBTC fund from management company Fidelity was the leader in terms of inflows on June 4 with $379 million, followed by the IBIT fund from BlackRock with $274 million, and the GBTC fund managed by Grayscale with $28 million. All U.S. spot bitcoin ETFs managed more than $61 billion worth of bitcoins - 4.43% of existing coins.

Bitcoin exchange rate at the moment exceeded the mark of $71.25 thousand in pairing with the USDT stablecoin on the Binance cryptocurrency exchange. At 10:00  time on May 5, the first cryptocurrency was fixed at the level of $71 thousand. Bitcoin has added 3% to its price over the past 24 hours.

After several weeks of stagnation, with inflows stagnating on some days and some bitcoin funds, including BlackRock's IBIT, recording client outflows, investor activity has returned.

Bitcoin ETFs have raised $3.3 billion in the past four weeks, and net inflows since the beginning of the year have exceeded $15 billion, according to Eric Balchunus, senior ETF analyst at Bloomberg.

The surge in activity comes amid approval of the launch of Ethereum-based spot exchange-traded funds (ETH) in the US and positive statements by US presidential candidates about bitcoin.