Bitcoin spot ETFs inflows positive 18 days in a row

Bitcoin ETFs are posting strong gains again. Inflows were positive for 18 days in a row, with amounts ranging from USD 25 million to USD 886 million. A record. At the top of the list of buyers is BlackRock. On Thursday, June 6, 2024 alone, BTC worth USD 350 million was bought.

The world's largest asset manager is now also the Bitcoin ETF hodler with the most BTC, ahead of Grayscale. In fact, on Tuesday, June 4, 2024, inflows reached USD 887 million. The second highest value of all time.

The buying spree has noticeably pushed up the price of Bitcoin. The cryptocurrency is trading at USD 71,000 and is currently scratching its all-time high of USD 74,000. At the beginning of the month, the price was still at USD 58,000.

In total, U.S. Bitcoin ETFs manage 4.55 percent of the total amount of BTC in circulation. Can Bitcoin break its all-time high soon?