Bitcoin ETFs Extend Inflow Streak Despite Middle East Tensions
Bitcoin ETFs Grow in Volatile Market Spot Bitcoin exchange-traded funds (ETFs) in the United States taped $388.3 million in inflows on June 18. Bitcoin ETF flows (Source: Farside Investors) According to data from Farside Investors, BlackRock’s iShares Bitcoin Trust (IBIT) led the pack with $278.9 million in inflows, followed by the Fidelity Wise Origin Bitcoin Fund (FBTC), which saw $104.4 million. The Grayscale Bitcoin Trust ETF (GBTC) lost $16.4 million, while its lower-cost equivalent, the Grayscale Bitcoin Mini Trust, shed another $10.1 …
The inflows stayed strong regardless of the continuous geopolitical tensions between Israel and Iran. BlackRock’s IBIT led with nearly $279 million in inflows, while Fidelity’s FBTC likewise published outstanding gains. Meanwhile, Ether ETFs, led by BlackRock’s ETHA, also resumed their favorable momentum. On the other hand, Iran’s crypto sector suffered after a pro-Israel hacking group made use of the Nobitex exchange, which caused the reserve bank to limit trading hours. Telegram creator Pavel Durov, also just recently alerted of a social collapse due to France’s increasing censorship and regulatory pressure. Bitcoin ETFs Grow in Volatile Market Area Bitcoin exchange-traded funds (ETFs) in the United States recorded $388.3 million in inflows on June 18. This was the eighth consecutive day of capital injections regardless of the geopolitical stress coming from the Israel-Iran conflict. Bitcoin ETF circulations (Source: Farside Investors) According to information from Farside Investors, BlackRock’s iShares Bitcoin Trust (IBIT) led the pack with $278.9 million in inflows, followed by the Fidelity Wise Origin Bitcoin Fund (FBTC), which saw $104.4 million. The consistent demand suggests that there is still institutional self-confidence in Bitcoin, even after markets at first responded nervously to Middle East developments. Crypto analytics platform Santiment pointed out that Bitcoin remained resilient in the $104,000 to $105,000 range throughout the day. They pointed out that this behavior mirrors patterns that were seen in previous geopolitical occasions like the Russia-Ukraine war in 2022 and the Israel-Palestine dispute in late 2023, where Bitcoin initially dropped but quickly stabilized. Other ETFs also showed strength, with the Bitwise Bitcoin ETF (BITB) recording an $11.3 million inflow, while items from ARK Invest, Invesco, Franklin Templeton, Valkyrie, VanEck, and WisdomTree did not sign up any movement. The only significant outflows came from Grayscale products. The Grayscale Bitcoin Trust ETF (GBTC) lost $16.4 million, while its lower-cost equivalent, the Grayscale Bitcoin Mini Trust, shed another $10.1 million. Still, the wider trend is still positive. Because April 17, Bitcoin ETFs taped just 8 days of net outflows, and attracted $11.2 billion in inflows. In overall, more than $46.3 billion has flowed into the eleven US-based Bitcoin ETFs to date, with BlackRock’s IBIT and Fidelity’s FBTC handling $50.6 billion and $11.5 billion in assets, respectively. This consists of large outflows of $23.2 billion from Grayscale’s GBTC item. On the other hand, area Ether ETFs in the US are also seeing increased attention. In spite of a brief time out in inflows on June 13, the funds bounced back with three straight days of inflows in between June 16 and 18. BlackRock’s iShares Ethereum Trust ETF (ETHA) is leading the Ether ETF market as well, and it only experienced two days without inflows since Might 20. Iran Limits Crypto Exchange Hours After Pro-Israel Hack While the Middle East stress did not decrease inflows into Bitcoin ETFs, it did effect the crypto space in Iran itself. Iran’s central bank enforced stringent operating hours on domestic cryptocurrency exchanges after a significant security breach at Nobitex, the country’s leading crypto trading platform. The new policies restrict trading to between 10 am and 8 pm to try and improve oversight and handle possible future attacks throughout working hours. The decision was made after pro-Israel hacker group Gonjeshke Darande declared responsibility for an exploit that drained over $100 million from Nobitex’s hot wallets throughout numerous cryptocurrencies consisting of Bitcoin, Ethereum, Dogecoin, XRP, and Solana. According to Chainalysis, the stolen funds were not moved to brand-new wallets for profit however were rather sent out to burner addresses, completely removing them from flow. This politically motivated attack stands apart in contrast to common economically driven exploits. Andrew Fierman, head of national security intelligence at Chainalysis, explained that Iran may be attempting to assert tighter control over resident crypto activity, particularly throughout a period of increasing geopolitical stress and the capacity for capital flight. This is not the first time Iran’s reserve bank intervened in the crypto market. In December, all exchanges were temporarily shut down to avoid additional decline of the Iranian rial. Now, in the wake of the Nobitex incident and Israel’s airstrikes on Iranian area on June 13, authorities are when again working out tighter control over the nation’s crypto infrastructure. Nobitex verified the breach openly, and revealed that external access to its servers had actually been severed. The exchange reassured its users that its reserve fund will fully cover the losses which affected hot wallets are being moved to cold storage. However, web disruptions and limited server access are most likely to delay the remediation of user access. (Source: Chainalysis) Chainalysis shed some light on Nobitex’s main role in Iran’s digital asset ecosystem, with more than $11 billion in inflows. This is much larger than the next 10 Iranian exchanges combined. The platform is viewed as an important link for Iranians browsing sanctions to take part in worldwide crypto markets. Its operations have likewise been linked to groups thought about terrorist companies by Western authorities, as well as sanctioned Russian exchanges like Garantex and Bitpapa. Pavel Durov Warns of Collapse in France Tensions are mounting in other parts of the world. If it continues pursuing what he describes as a misguided path of censorship and overregulation, telegram creator Pavel Durov cautioned that France threats dealing with social collapse. In an interview with French publication Le Point, Durov expressed his disappointment with President Emmanuel Macron’s management, and stated that France is ending up being “weaker and weaker” and losing its competitive edge. He described that failing to enact necessary reforms and raising generations under limiting ideologies might result in severe changes and even collapse. This remains in plain contrast with innovation-friendly environments like Dubai, which he stated are bring in France’s top talent. Pavel Durov Durov’s remarks are part of a wider media project he carried out considering that his arrest in France in August of 2024. That arrest drew a lot of reaction from the crypto market and global civil rights advocates, who saw it as a danger to complimentary speech and digital sovereignty. While the legal case is still under worldwide analysis, Durov speaks up versus what he views as creeping authoritarianism under the guise of regulative reform. (Source: X) In the interview, Durov also made major claims versus France’s intelligence services by declaring that their chief, Nicolas Lerner, approached him at the Hôtel de Crillon and requested the censorship of pro-conservative content ahead of Romania’s Might 2025 governmental election. Durov stated he declined the request as it opposed the principles of open discourse. He also slammed the European Union’s Digital Provider Act, and explained it as a deceptive legislative framework that might allow extensive censorship under the pretext of customer security and false information control. Durov cautioned that such laws are inherently harmful, as they could become turned against those who assisted enact them. Source: https://coinpaper.com/9620/bitcoin-et-fs-extend-inflow-streak-despite-middle-east-tensions
Bitcoin ETFs Flourish in Volatile Market Spot Bitcoin exchange-traded funds (ETFs) in the United States taped $388.3 million in inflows on June 18. Bitcoin ETF circulations (Source: Farside Investors) According to information from Farside Investors, BlackRock’s iShares Bitcoin Trust (IBIT) led the pack with $278.9 million in inflows, followed by the Fidelity Wise Origin Bitcoin Fund (FBTC), which saw $104.4 million. Other ETFs likewise revealed strength, with the Bitwise Bitcoin ETF (BITB) tape-recording an $11.3 million inflow, while products from ARK Invest, Invesco, Franklin Templeton, Valkyrie, VanEck, and WisdomTree did not register any movement. The Grayscale Bitcoin Trust ETF (GBTC) lost $16.4 million, while its lower-cost equivalent, the Grayscale Bitcoin Mini Trust, shed another $10.1 million. Iran Limits Crypto Exchange Hours After Pro-Israel Hack While the Middle East tensions did not slow down inflows into Bitcoin ETFs, it did effect the crypto space in Iran itself.
