U.S. Bitcoin ETFs saw inflows of over $488 million, but Google Trends data shows Bitcoin and crypto-related searches are far down from 2021 highs.
United States spot Bitcoin (BTC) exchange-traded funds (ETFs) saw collective inflows of $488.1 million on June 5, but Google data shows hardly anyone is searching for it compared to 2021’s bull run — a bullish sign that retail hasn’t arrived yet.
The ETFs recorded their second-best inflow day of $886.6 million on June 4. The next day achieved around half that number, with Fidelity Wise Origin Bitcoin Fund (FBTC) making up the largest share of inflows at $220.6 million, Farside Investors data shows.
BlackRock’s iShares Bitcoin Trust (IBIT) was second with $155.4 million, and even the Grayscale Bitcoin Trust (GBTC) — which has seen net outflows exceed $17.8 billion since January — saw a $14.6 million net inflow.