US spot bitcoin ETFs see $300 million inflows on seventh consecutive day of positive flows

The 11 spot bitcoin exchange-traded funds in the U.S. reported a daily net inflow of $301 million, extending its positive streak to a seventh consecutive day.

BlackRock’s IBIT, the biggest spot bitcoin ETF by net asset value, recorded the largest net inflows of the day with $117.25 million, according to SoSoValue data . The fund was also the most traded bitcoin ETF on Monday, with a volume of $1.24 billion. Ark Invest and 21Shares’ ARKB closely followed with net inflows of $117.19 million.

Fidelity’s FBTC saw net inflows of $36.15 million, and Bitwise’s BITB saw $15.24 million worth of inflows on Monday. Funds from VanEck, Invesco and Galaxy Digital and Franklin Templeton also recorded net inflows yesterday.

Grayscale’s GBTC recorded zero flows on Monday, along with the ETFs from Valkyrie, WisdomTree and Hashdex.

A total of $2.26 billion worth of value was traded on the U.S. spot bitcoin funds on Monday. The trading volume in spot bitcoin ETFs remained lower than that in March when the volume exceeded $8 billion on several days. The ETFs have accumulated a total net inflow of $16.11 billion since launching in January.

The price of bitcoin recovered and broke above $64,000 at the time of publication. The world's largest cryptocurrency is currently trading at $64,770, according to The Block’s bitcoin price page . BlackRock co-founder and CEO Larry Fink said in a CNBC interview on Monday that bitcoin has become a “legitimate financial instrument,” saying that his skeptical views on the cryptocurrency were wrong. 

Meanwhile, spot ether ETFs are likely to launch on July 23 , sources from two U.S. issuers have confirmed with The Block.