The trend of increasing flows into US spot Bitcoin ETFs continued last week, with total net inflows totaling $948.3 million, according to the latest report from CoinShares.
This brings total net inflows for two consecutive weeks to $1.05 billion, fully recovering from four weeks of outflows in April.
There were no total net outflows for any of the combined funds last week, except for Grayscale's GBTC.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange
It experienced a net outflow of $50.9 million on Tuesday, which was offset by a net inflow of $63.2 million the rest of the week, resulting in a weekly net inflow of $12.3 million for GBTC.
For the second week in a row, Fidelity's FBTC posted the largest net inflows at $344.5 million, followed by Ark Invest's ARKB at $243.7 million.
BlackRock's IBIT spot Bitcoin ETF came in third last week with $131.8 million in net inflows.