Driven by BlackRock in Bitcoin ETF Inflows, Even as ARK 21Shares Sees Declines.

As noted on Coinatory, recent data has shown remarkable inflows into U.S. Bitcoin ETFs, with an influx of $131 million on June 7 marking a 19-day streak of positive net flows. Despite 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, worth roughly $3.47 billion.

On June 7 alone, Lookonchain data indicated that nine separate Bitcoin ETFs collectively received an additional 3,689 BTC, valued at $261.91 million. This surge was largely driven by BlackRock, which added 4,896 BTC, valued at $347.61 million, into its Bitcoin ETF, substantially boosting its total holdings to 302,540 BTC, worth an noteworthy $21.48 billion. This substantial inflow highlights growing investor confidence, notably in products from BlackRock and Fidelity, even as ARK 21Shares witnessed outflows.

Compared with the surge to BlackRock's Bitcoin ETF, the ARK 21Shares Bitcoin ETF (ARKB) saw significant outflows. This difference shows the varying investor attitude across different funds and indicates a preference for ETFs with a more recognized track record or greater market presence. On the other hand, the Valkyrie Bitcoin Fund (BRRR) and the Franklin Bitcoin ETF (EZBC) both showed zero net flows on the same date, suggesting a more cautious or neutral stance from investors towards these products.

In  ARK 21Shares Bitcoin ETF (ARKB) net outflows  preceding June 7, BlackRock's BTC ETF emerged a performance leader, recording a net inflow of 13,482 BTC. Fidelity's Wise Origin Bitcoin Fund (FBTC) followed closely, obtaining 9,729 BTC, valued at over $671 million. The ARK 21Shares Bitcoin ETF (ARKB) secured the third position with a seven-day net inflow of 1,764 BTC, valued at $121 million. Comparatively, VanEck Bitcoin Trust ETF (HODL) and Valkyrie Bitcoin Fund experienced smaller weekly net inflows of $7.7 million and $1.5 million, respectively, indicating a broader range of investor preferences across various Bitcoin ETF products.

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

Since their launch in January, U.S. Bitcoin ETFs have collectively controlled over 880,000 BTC, valued at more than $62 billion. This substantial growth in assets under management demonstrates a growing acceptance and institutional investment in Bitcoin through ETFs. Despite these significant inflows, Bitcoin's price exhibited comparative stability, varying between $68,856 and $69,544 within a 24-hour period, according to CoinGecko data. During this time, BTC experienced 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 marked 34.81% drop in daily trading volume, which reached $20.9 billion.

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