US Bitcoin ETFs hit eight-day inflow streak despite Middle East tensions

US-based spot Bitcoin exchange-traded funds recorded $388.3 million in inflows on Wednesday to make it eight consecutive days of fresh capital, despite initial market panic from the Israel-Iran conflict.

BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC) led all with $278.9 million and $104.4 million in inflows, respectively, Farside Investors data shows.

The strong inflow on June 18 shows institutional confidence remains firm as Bitcoin (BTC $104,777) held steady in the $105,000 range despite renewed Iran-Israel tensions initially rattling the markets, crypto analytics platform Santiment said in a June 18 X post.

Despite the initial panic, Bitcoin has remained in the $104K-$105K range, aided by consistent ETF inflows and a lack of follow-through in military actions, mirroring the typical ‘risk-off, then stabilize’ pattern seen in previous geopolitical crises.

Santiment said the pattern closely resembles Bitcoin’s price reaction to Russia’s invasion of Ukraine in February 2022, and the Israel-Palestine conflict in October 2023, which saw Bitcoin fall around 7% before stabilizing days later.

The Bitwise Bitcoin ETF (BITB) was the only other product to record an inflow on June 18 at $11.3 million, while the Bitcoin ETFs issued by ARK Invest, Invesco, Franklin Templeton, Valkyrie, VanEck and WisdomTree failed to register inflows on the day.

Only Grayscale’s Bitcoin products in the red

The Grayscale Bitcoin Trust ETF (GBTC) bled $16.4 million, while the asset manager’s low-fee Grayscale Bitcoin Mini Trust also saw $10.1 million in outflows.

Daily flows into the spot Bitcoin ETFs between June 2 and 18. Source: Farside Investors

Inflows into Bitcoin ETFs on a tear

After a slow first few months of 2025, inflows into the spot Bitcoin ETFs have picked up pace recently, tallying a staggering $11.2 billion since April 17. 

There have been only eight days of outflows since then, during which Bitcoin’s price has risen from below $85,000 to $104,950.

More than $46.3 billion has flowed into the 11 Bitcoin products, led by BlackRock’s IBIT and Fidelity’s FBTC at $50.6 billion and $11.5 billion, respectively.

The tally includes $23.2 billion worth of outflows from Grayscale’s GBTC.

Ether ETFs pulling their weight

The US spot Ether (ETH $2,524) ETFs saw a 19-day inflow streak before it broke on June 13 — but rebounded with three consecutive days of fresh inflows between June 16-18, including over $19.1 million on Wednesday.

BlackRock’s iShares Ethereum Trust ETF (ETHA) is leading the pack, with total net outflows of $5.28 billion, Farside Investor data shows. 

BlackRock’s ETHA has recorded an inflow on every trading day except two since May 20 and hasn’t recorded an outflow since May 7.

The strong flows come as the Securities and Exchange Commission’s Crypto Task Force has taken a more collaborative approach with industry players and recently clarified that protocol-level staking isn’t a securities transaction — potentially opening the door to Ether ETFs with staking features in the future.