Notes

BlackRock Strengthens in Bitcoin ETF Investments, Despite ARK 21Shares Experiences Opposite Trend.
As noted on Coinatory, current statistics has revealed remarkable inflows into U.S. Bitcoin ETFs, with an influx of $131 million on June 7 signifying a 19-day run of positive net movements. In contrast to this overall trend, the ARK 21Shares Bitcoin ETF (ARKB) experienced notable outflows totaling 1,364 BTC, or approximately $96.84 million, reducing its holdings to 48,939 BTC, valued at roughly $3.47 billion.


On June 7 alone, Lookonchain data showed that nine different Bitcoin ETFs collectively received an additional 3,689 BTC, valued at $261.91 million. This surge was primarily propelled by BlackRock, which infused 4,896 BTC, valued at $347.61 million, into its Bitcoin ETF, substantially boosting its total holdings to 302,540 BTC, worth an impressive $21.48 billion. This considerable inflow underscores growing investor trust, especially in products from BlackRock and Fidelity, even as ARK 21Shares saw outflows.

Compared with the inflow to BlackRock's Bitcoin ETF, the ARK 21Shares Bitcoin ETF (ARKB) saw significant outflows. This discrepancy shows the varying investor sentiment across different funds and implies a preference for ETFs with a more proven track record or bigger market presence. Meanwhile, the Valkyrie Bitcoin Fund (BRRR) and the Franklin Bitcoin ETF (EZBC) both indicated zero net flows on the same date, suggesting a more cautious or neutral stance from investors towards these products.

In the week leading up to June 7, BlackRock's BTC ETF was a performance leader, showing a net inflow of 13,482 BTC. Fidelity's Wise Origin Bitcoin Fund (FBTC) followed closely, gaining 9,729 BTC, valued at over $671 million. The ARK 21Shares Bitcoin ETF (ARKB) managed to secure the third position with a seven-day net inflow of 1,764 BTC, valued at $121 million. In comparison, VanEck Bitcoin Trust ETF (HODL) and Valkyrie Bitcoin Fund saw smaller weekly net inflows of $7.7 million and $1.5 million, respectively, highlighting a wider range of investor preferences across various Bitcoin ETF products.

By the end of the week, BlackRock held its status as the largest Bitcoin ETF with holdings exceeding $21 billion. Next to BlackRock, Grayscale maintained 285,651 BTC, valued at approximately $19.7 billion, while Fidelity's holdings approached nearly $12 billion. These figures reflect the major position of BlackRock in the Bitcoin ETF market, with significant holdings also by Grayscale and Fidelity.

Since their inception in January, U.S. Bitcoin ETFs have collectively managed over 880,000 BTC, valued at more than $62 billion. Bitcoin ETFs performance in assets under management reflects a growing acceptance and institutional investment in Bitcoin through ETFs. Despite these significant inflows, Bitcoin's price showed comparative stability, varying between $68,856 and $69,544 within a 24-hour period, according to CoinGecko data. During this time, BTC had a slight decline of 0.9%, trading at $69,465, with a market cap of $1.36 trillion and a market dominance of 51.1%. The price dip was accompanied by a significant 34.81% drop in daily trading volume, which reached $20.9 billion.

In summary, as detailed by Coinatory, the increase in Bitcoin ETF inflows, notably led by BlackRock, demonstrates a growing trust among investors in Bitcoin ETFs. This trend contrasts with the outflows seen from ARK 21Shares and suggests a dynamic investment landscape where fund performance and reputation play key roles in attracting capital.

Read More: https://coinatory.com/cryptocurrency-news/bitcoin-etfs-see-131m-inflows-despite-market-volatility-19619/