The impressive streak of Bitcoin ETF inflows, which lasted for 19 consecutive days, has come to an end. Despite the streak's conclusion, the beginning of June has demonstrated substantial activity, with Bitcoin ETFs showing strong performance. In just the first week of June, these ETFs collectively bought 25,729 BTC, nearly matching the total purchases made throughout the month of May.

#### A Review of Bitcoin ETF Activity in 2024

The year 2024 has been eventful for Bitcoin ETFs, starting with significant purchases. In January, these ETFs acquired 33,456 BTC. This was followed by a massive inflow of 116,561 BTC in February. March saw a somewhat smaller but still substantial acquisition of 65,456 BTC. However, April marked a different trend with an outflow of 6,074 BTC, indicating a shift in market behavior. The outflow in April was an anomaly, as the inflow trend picked back up in May, with 25,729 BTC being purchased.

#### June's Strong Start

According to data shared by HODL15Capital, the first week of June saw Bitcoin ETFs purchasing 25,729 BTC, nearly matching the total amount bought in the entire month of May. This substantial activity suggests strong investor interest and confidence in Bitcoin ETFs despite the overall market volatility.

#### Total Inflows and Outflows

Since their inception in mid-January, Bitcoin ETFs have attracted a total of nearly $15.7 billion in net inflows from investors. This figure includes the $17.93 billion in net outflows experienced by Grayscale’s GBTC during the same period. The cumulative inflows highlight the growing acceptance and popularity of Bitcoin ETFs among investors.

#### Assets Under Management (AUM)

The 11 Bitcoin ETFs currently manage more than $61 billion in total assets under management (AUM), with BlackRock and Fidelity leading the pack in the US. This significant AUM reflects the substantial capital that these investment vehicles have attracted and managed over the period.

#### The End of the 19-Day Streak

The streak of 19 consecutive days of inflows came to an end on June 10, exactly one month after it began. Data from Farside indicates that on June 10, $64.9 million was withdrawn from the ETFs. The largest outflow was from Grayscale’s GBTC, which saw nearly $40 million taken out. Despite the overall outflows, a few ETFs like IBIT and BITB experienced minor inflows during this period.

#### Market Reaction to Outflows

The outflows from Bitcoin ETFs had a noticeable impact on Bitcoin’s price. Within 12 hours of the significant outflows, Bitcoin's price dropped from just over $70,000 to under $68,000. This sharp decline resulted in $170 million in liquidations and negatively affected the broader cryptocurrency market.

#### Conclusion

The recent activities surrounding Bitcoin ETFs underscore the dynamic nature of the cryptocurrency market. The end of the 19-day inflow streak and the substantial transactions in June's first week illustrate the ongoing interest and volatility in Bitcoin investments. As Bitcoin ETFs continue to attract significant capital, their influence on the market remains profound, reflecting investor confidence and the evolving landscape of cryptocurrency investments.