Bitcoin ETFs are showing impressive activity. In the first week of June, U.S. Bitcoin ETFs acquired nearly two months’ worth of Bitcoin’s mining supply. These funds scooped up 25,729 BTC, a staggering amount compared to the 3,150 BTC mined in the same period. This influx, totaling about $1.83 billion, showcases the growing interest in crypto among institutional investors.
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Moreover, Nate Geraci, president of ETF Store, noted that Bitcoin ETF assets now amount to around 60% of the country’s gold ETFs, despite being much newer. This surge in ETF activity highlights Bitcoin’s evolving status as “digital gold,” cementing its role as a hedge against economic uncertainty.
Digital Asset Investment Products Record Large Inflows
Furthermore, digital asset investment products started June positively, with nearly all providers seeing inflows and recording an overall inflow of $2 billion, according to CoinShares’ weekly fund flows report, published on June 10.
Regionally, the United States led in inflows, contributing $1.98 billion, including the third-largest daily inflow on record early in the week. BlackRock’s iShares Bitcoin ETF (IBIT) has now surpassed the Grayscale Bitcoin Trust, reaching $21 billion in assets under management (AUM).
Bitcoin was the star of the show, pulling in a whopping $1.97 billion over the week. Meanwhile, short-Bitcoin products were clearly not feeling the love, with outflows hitting $5.3 million for the third week in a row. It looks like investors are feeling pretty bullish about Bitcoin’s future.
Ethereum wasn’t left in the dust either, grabbing the spotlight with $69 million in inflows—its best week since March. This surge likely came after the SEC gave the green light to Spot Ethereum ETFs, catching everyone off guard. The positive investor response highlights Ethereum’s growing appeal and broader acceptance of its potential.
What Is Bitcoin’s Price?
On June 1st, Bitcoin’s price was hovering around $67,670, and as of today, June 10th, BTC’s price has reached $69,316.
