Bitcoin exchange-traded funds (ETFs) are showing renewed strength, crossing a key milestone in holdings as of mid-June.
According to on-chain data from Lookonchain, total Bitcoin ($BTC) held across all ETFs has now surpassed 1.2 million BTC. At current prices, this figure represents more than $132 billion in assets under management.
Leading this surge is the iShares Bitcoin Trust (IBIT), backed by BlackRock, which continues to dominate the ETF market. As of 9 June 2025, IBIT held 662,571 BTC.
The fund recorded a net inflow of 1,113 BTC in a single day, and 2,979 BTC over the last seven days. This steady climb reflects its growing appeal among investors seeking regulated exposure to Bitcoin.
However, Fidelity’s Wise Origin Bitcoin Fund (FBTC) stole the spotlight in terms of daily inflow. As of 10 June, FBTC added 1,593 BTC in a single day – the highest daily inflow among all funds. Its total holdings now stand at 198,075 BTC, with a weekly net inflow of 436 BTC.
The broader ETF sector remains robust. ARK 21Shares Bitcoin ETF (ARKB) logged a 1-day net inflow of 100 BTC and a 7-day total of 527 BTC, increasing its holdings to 45,824 BTC.
Bitwise Bitcoin ETF (BITB) also posted strong figures, with 631 BTC added in one day and 713 BTC over the week, bringing its total to 38,415 BTC.
VanEck Bitcoin Trust (HODL) and Invesco Galaxy Bitcoin ETF (BTCO) saw more modest gains. HODL added 71 BTC in a day and 184 BTC for the week, reaching 15,195 BTC in holdings.
BTCO, on the other hand, added just 1 BTC in a day but maintained a seven-day gain of 76 BTC, with total assets at 5,166 BTC.
The Grayscale Bitcoin Trust (GBTC) remains the major exception. Since converting into an ETF, it has consistently posted outflows.
As of 9 June, GBTC recorded a daily net outflow of 23 BTC and a weekly net outflow of 447 BTC. Its holdings have dropped to 185,211 BTC.
Interestingly, the newer Grayscale Bitcoin Mini Trust (BTC) showed contrasting activity. It registered a positive 88 BTC net inflow in one day but still posted a slight 7-day outflow of 10 BTC. BTC’s current holdings are 43,524 BTC.
Other ETFs are maintaining a mixed but largely positive picture. The Valkyrie Bitcoin Fund (BRRR) saw a minor 1-day outflow of 9 BTC, yet still managed a 7-day inflow of 18 BTC, holding 5,759 BTC in total.
Franklin’s Bitcoin ETF (EZBC) reported no net changes over both the daily and weekly periods, standing at 5,040 BTC.
The consistent inflows across most major ETFs reflect a strong wave of institutional and retail confidence in Bitcoin as a long-term investment vehicle.
Bitcoin consolidates as market eyes macro signals
At the time of reporting, Bitcoin’s price stood at approximately $108,500, marking a 1.5% decline from the previous day’s open, according to TradingView.
Market activity over the past 24 hours has been influenced by renewed discussions between the United States and China over trade agreements. Despite optimistic headlines, no concrete outcomes have emerged.
Trading firm QCP commented on the developments, stating, “Despite vague affirmations from US officials, with terms like ‘fruitful’ and ‘good meeting’ dominating the post-talks rhetoric, the absence of substantive breakthroughs saw global risk assets pause”.
Analysts expect the current phase to lead to short-term consolidation. “The first period of consolidation typically lasts a few days. Then, we’re going to have the next breakout above the ATH”, wrote trader Michaël van de Poppe on X. He pointed to the $107,000–$108,000 range as a potential buying opportunity.
Mark Cullen, another market analyst, echoed this view. He suggested that the price could briefly dip to $107,000 in a “quick retrace and fast buy up”.
Cullen also warned that a more significant correction could take Bitcoin back to $98,000. “Key levels are 106K, then 98K for bullish continuation into the summer”, he added.
Attention now shifts to key macroeconomic indicators. CPI and PPI data for May are expected to be released on Wednesday and Thursday, respectively.
“For now, markets remain in limbo. With US CPI data scheduled for release tomorrow, investors are treading cautiously”, QCP noted.
This week’s inflation data could provide the final economic cues ahead of the US Federal Reserve’s meeting on 18 June to review interest rates.
According to a Reuters poll, the market anticipates a rate cut resumption in Q3, although President Donald Trump continues to pressure the Fed for earlier action.
Analyst DaanCrypto observed that ETF inflows and price movements are once again aligned. “ETF inflows have resumed and price has been moving up with that, so that’s good”, he stated.
He also highlighted the rising open interest and increasing market activity, pointing to potential volatility. “With both $BTC and stocks close to all-time highs, brace for bigger moves than expected”, he warned.
Whale activity and protocol upgrade set the stage for second-half momentum
As Bitcoin trades just below its all-time high of $111,980, positive sentiment is emerging from several fronts.
Analysts point to renewed buying pressure from US investors, driven by perceived progress in US-China trade talks and an apparent thaw between Donald Trump and Elon Musk.
“BTC led a euphoric surge overnight, rallying from $107K to above $110K, as US-China trade talks resumed in London”, QCP analysts said.
However, they also noted that initial optimism faded as negotiations yielded little in terms of concrete results.
Still, the uptick in US investor interest is measurable. CryptoQuant’s Korea Community Manager, Crypto Dan, pointed to rising Coinbase Premium and growing whale activity as key signs of renewed momentum.
“In particular, the Coinbase Premium is gradually rising, indicating that buying pressure from US investors is supporting the trend. Additionally, whale buying activity is being observed incrementally”, he noted.
The Coinbase Premium Index gauges the price difference between Coinbase and Binance. A positive value indicates strong buying from American investors, often seen as a bullish signal.
Crypto Dan added that the market is showing healthy behaviour without signs of overheating, suggesting potential for further gains later in the year.
Another CryptoQuant analyst, Avocado_onchain, observed that Bitcoin’s current rise is occurring in a relatively quiet market. “Bitcoin quietly builds strength near ATH. More Upside Potential in Sight,” he posted.
He also noted that the Kimchi Premium – the price difference between Korean and global exchanges – remains low, indicating that retail euphoria has not yet peaked.
Bitcoin’s next upward push depends on whether it can break past the resistance zone between $109,242 and $111,774.
The midpoint of this range, $110,478, is seen as a key threshold. A close below $102,239 would signal a bearish reversal, while any close above the resistance block could trigger new all-time highs.
In parallel, Bitcoin Core developers are preparing for a significant software upgrade. Version 30 of Bitcoin Core, expected in October, will increase the OP_RETURN data limit from 80 bytes to nearly 4 MB – matching the maximum block size. This change aims to simplify the UTXO set and improve on-chain data handling.
The proposal has sparked debate within the community. Critics like developer Luke Dashjr warn that allowing large data sizes could lead to network congestion. Supporters, including Gloria Zhao and Greg Sanders, argue that the change enhances neutrality and improves user experience.
“This modification fixes a mismatch between the real impact and current rules”, Zhao explained. Sanders added that the update would lead to “cleaner UTXO management and a more consistent default user experience.”
The upcoming change highlights ongoing tensions in Bitcoin’s governance. Zhao emphasised that developers must remain independent from outside influence.
“If this approach is ever abandoned, users might switch to alternative implementations”, she warned.
Bitcoin Core 30 will also allow users to manually adjust the OP_RETURN data limits. While these settings currently come with warnings, they could be removed in future versions.
As June progresses, the combination of ETF inflows, macroeconomic catalysts, and upcoming technical changes continues to shape a crucial phase for Bitcoin.
Investors and developers alike are watching closely, with the market poised for potential movement in either direction.
