- Bitcoin ETFs to mark a solid month with over 9,000 BTC of net inflows
- Investor appetite remains strong despite a modest slump in crypto prices
- Bitcoin prices are lower by 7% so far in June, indicating consolidation
Over 9,000 BTC in Net Inflows
Bitcoin exchange-traded funds that hold genuine cryptocurrency are set to finish June on a high note. All 11 approved spot BTC ETFs operating in the US have seen investors plow 9,281 BTC in net inflows, i.e., the tokens that remain in the funds after the tokens that have left.
The positive stream of cryptocurrency flows indicated that investors remain committed to owning and trading the leading digital asset despite a broad slump in prices. Moreover, Bitcoin, as the world’s biggest cryptocurrency, is known for its volatility and wide fluctuations, making it difficult for traders to predict where the token might go next.
Monthly Loss, Half-Year Gain
Against that backdrop, the price of Bitcoin is facing a modest loss so far in June. The orange coin is currently changing hands at around $62,500, marking a decline of about 7% this month. With that, the first half of the year is nearly in the rearview mirror.
Throughout January through today, Bitcoin prices are up a hefty 42% as crypto market enthusiasts have been highly positive about crypto’s recent developments, such as launching the 11 spot Bitcoin ETFs in the US – a move that lifted Bitcoin to a record high of $73,000 in March.