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After a hiatus in recent weeks, which led to questions over whether interest had permanently faded, spot Bitcoin ETFs are back on track and are scooping up thousands of BTC. In the past two days, these ETFs have racked up over $1.4 billion in net flows, but it has done little to the price of the underlying asset.On June 4, Bitcoin ETFs brought in $886 million, the second-highest single-day inflow in their history, signaling a surge in appetite for the crypto in the institutional investment world. This was up by 700% from the previous day. On June 5, the ETFs kept up their resurgence, racking up $488.1 million worth of the asset, or 6,855 BTC.While BlackRock’s IBIT ETF has been setting the pace, it has been Fidelity that has led the latest resurgence. On the monstrous June 4, it brought $378 million to BlackRock’s $274. The next day, it followed up its form with $220 million to BlackRock’s $155 million. Of the smaller ETFs, Ark’s was the best performer, with $71.4 million in inflows.Perhaps just as critically, Grayscale has ceased bleeding its assets. In the past 12 days, outflows have been on five days only as the once-largest ETF seems to find some stability. Yesterday, it recorded $14.6 million in inflows, down from the $28 million it recorded on Tuesday.However, when the outflows have come for Grayscale, they have been outsized. Its last three outflows have seen investors withdraw $124.3 million, $31.1 million, and $105.2 million.With BlackRock continuously bringing in funds and Grayscale losing investments, IBIT recently overtook GBTC to become the largest Bitcoin ETF, as Crypto News Flash reported. At press time, BlackRock holds $20.146 billion in assets under management, while Grayscale holds just a little less, at $20.122 billion.The rise in ETF inflows comes despite a dip in search interest on Google. ‘Bitcoin ETF’ has a low score of 1 on Google Trends for global searches, while ‘Bitcoin’ got 31. Curiously, the global search for ‘onchain’ hit a new record at 100 recently, showing that more people are exploring blockchain beyond simple speculation and looking into applications such as tokenization.Meanwhile, Bitcoin trades at $71,134 and has failed to capitalize on the revived interest in its ETFs. Since hitting $70,000 on Tuesday, the top crypto has traded sideways, with an attempt to break past $71,700 on Wednesday quickly sniffed out. The top token’s market movement aligns with most other cryptos, which have been in a consolidation phase for weeks.More By This Author:Bitcoin to $150K if Trump Wins the U.S Election – Standard Chartered
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