The turnaround for flows into U.S. spot bitcoin exchange-traded funds continued last week, registering $948.3 million in net inflows. Added to the $116.8 million worth of net inflows generated the week prior, the ETFs have now fully recovered from four weeks of consecutive inflows spanning most of April, totaling $1.05 billion.

No total net outflows were witnessed for the combined funds any day last week, with Grayscale’s higher-fee GBTC the only spot bitcoin ETF to register any daily net outflows, losing $50.9 million on Tuesday. However, this was more than covered by $63.2 million worth of net daily inflows across the remainder of the week, meaning GBTC generated $12.3 million in net weekly inflows — the first registered by the converted product.

Fidelity’s FBTC dominated the net …