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Two Months Of Mining Supply In One Week; Will Bitcoin ETF Surge? 

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The first week of June was marked with good news for spot Bitcoin ETFs, showcasing an outstanding performance in Inflows. The ETFs gathered two months of Bitcoin (BTC) mining supply within a week, and recorded inflows of $1.78 Billion. 

Spot Bitcoin ETFs One Week Performance 

BSC News took to X to share spot Bitcoin ETF‘s outstanding performance in June’s first week. Accumulating two months’ worth of BTC mining supply in one week documented inflows of over 25,729 BTC between June 3 and 7.

At press time, BTC was trading at $$69,370.03, after an intraday drop of 0.01% with a market cap of $1,367,459,032,325 and $16,626,794,513 in 24-hour trading volume. 

The daily net inflow of $886.75 Million on June 4 and $488.24 Million on June 5 played a vital part in boosting the inflows. As of June 7, the total net inflow recorded was $130.99 Million, and $15.69 Billion in cumulative net inflow.

The BTC gathered in the particular week is similar to the entire month of May, indicating 29,592 BTC purchased. Moreover, the 11 ETF providers played a significant role in enhancing traders’ attention towards BTC ETFs.

The Giants of Spot Bitcoin ETF Race

The 11-spot Bitcoin ETF providers accumulated over $1.78 Billion in inflows between June 3 and 7.

According to Coinglass data, iShares BTC Trust (IBIT), Fidelity Wise origin BTC Fund (FBTC), VanEck BTC Trust (HODL), and ARK 21Shares BTC ETF (ARKB) are the giants.  

Total Bitcoin Spot ETF Net Inflow (BTC) I Source: Coinglass

IBIT was trading at $39.55 with $15.51 Million in 10-day average volume and 17,243,100,000 in AUM. Last week, IBIT recorded an average net inflow of $13.49K. FBTC, alternatively, hovering at $60.54 with 9,900,000,000 in AUM and an average net inflow of $53.35K.

HODL and ARBK also recorded high net inflows in a week.         

What Next?

As of now, spot Bitcoin ETFs hold $2.80 Billion in total volume, $63.22 Billion in market cap, and over $54.35 Billion in assets under management (AUM).

To predict upcoming weeks’ performance, on June 9, HODL15Capital conducted a poll asking the question: how many BTC will ETFs buy next week (week 23)?

Followers were provided with four options including Negative week, 0-3,150 BTC, 3,151-10K BTC, and 10K+ BTC. Poll results were declared by HODL15Capital on June 10.

Surprisingly, 42% of the voters opted for 10K+ BTC and 32% of the respondents chose 3,151-10K BTC for the next week. Only 11% think that next week will be a dark zone for the spot Bitcoin ETFs.

All these sentiments showcase a positive attitude of individuals, investors, and traders toward BTC as well as ETF, indicating a surge in Spot Bitcoin ETFs.

Disclaimer

The analysis given above is for informational and educational purposes only. You should not take it as financial, investment, or other advice. Investing in or trading crypto assets is risky. Please consider your circumstances and risk profile before making any investment decisions.

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