Bitcoin ETFs See Biggest Inflow in Four Weeks as SpaceX Lists

Bitcoin spot exchange-traded funds registered $85.85 million in net inflows on June 12, the largest single-day inflow in about four weeks, coinciding with SpaceX’s Nasdaq debut under the ticker SPCX.

The inflow ended a five-session withdrawal streak that removed roughly $727 million from the funds. It was the strongest daily demand since May 14, when ETFs recorded $131.31 million. Cumulative net inflows into Bitcoin spot ETFs stand at $53.62 billion, with total net assets near $79.65 billion.

The funds had previously experienced a 13-session run of outflows from May 15 to June 3, the longest such stretch since the ETFs launched in early 2024. Net redemptions resumed on June 5, June 8, June 9, June 10 and June 11 before the trend reversed on June 12.

Geopolitical tensions in the Middle East pushed Bitcoin toward about $59,000 in the period of outflows. Bitcoin was roughly 20% lower over the past month. Market sentiment shifted beginning June 11 after former President Donald Trump announced he had canceled planned U.S. strikes on Iran. Pakistani Prime Minister Shehbaz Sharif tweeted that “finalisation likely expected in the next 24 hours” on a peace deal. At the time of reporting, BTC traded near $63,868.

SpaceX completed a record-setting Nasdaq listing on June 12. The shares were priced at $135, opened at $150 and closed near $161. The offering raised about $75 billion at an implied valuation of $1.7 trillion, the largest IPO on record.

ETF flows and the SpaceX offering were recorded on the same day. June 12 inflows into Bitcoin ETFs and the size of the equity sale were both recorded in market data.

Michael Saylor, executive chairman of MicroStrategy, posted congratulations to SpaceX and wrote that the listing meant “25% of the Mag8 now holds Bitcoin on the balance sheet.”

Market participants are watching the Federal Reserve meeting on June 16-17 for interest-rate guidance and economic projections that could influence flows into risk assets, including crypto.

Bitcoin spot ETFs launched in early 2024 and have attracted significant capital since. Flows into the funds have shown sensitivity to geopolitical developments, central bank guidance and large capital raises in public markets. The June 12 inflow represents a short-term reversal after several sessions of net redemptions.