Spot Bitcoin ETFs Record $310M Inflows, Best Since Early June
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Bitcoin ETFs based in the United States saw their largest inflow day since early June with more than $310 million on July 12. This action has shown an increase in the interest and participation of investors in digital asset investing via financial instruments. BlackRock’s iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund were at the forefront, raising $120 million and $115.1 billion, respectively. The Bitwise Bitcoin ETF also played a major role in the inflows, which amounted to $28.4 million. At the same time, the Grayscale Bitcoin Trust reported a rather unusual inflow of $23 million. These inflows show more and more adoption of Bitcoin within the traditional financial system and cement the perception of Bitcoin as an asset class. Bitcoin ETF Flow (US$ million) – 2024-07-12 TOTAL NET FLOW: 310.1(Provisional data) IBIT: 120FBTC: 115.1BITB: 28.4ARKB: 13BTCO: 4EZBC: 0BRRR: 0HODL: 6.6BTCW: 0GBTC: 23DEFI: 0 For all the data & disclaimers visit:https://t.co/4ISlrCgZdk — Farside Investors (@FarsideUK) July 13, 2024 Detailed Performance of Various Bitcoin ETFs Other players in the ETF market including the VanEck Bitcoin Trust ETF, and Invesco Galaxy Bitcoin ETF witnessed inflows of $6 million and $4 million respectively. Conversely, some of the ETFs that are managed by Hashdex, Franklin Templeton, Valkyrie, and WisdomTree did not witness any new inflows on that specific day which implies that the market remains very much competitive. The sum of the funds’ inflow within the period of July 8 to July 12 was $1.04 billion. The activities that took place on July 12 were responsible for a large part of this funding. This indicates the increasing investors’ interest and hints at the improvement in market conditions following the previous fluctuations. Additionally, the development comes at a time when Bitcoin has been experiencing some struggles and gains in its market price. The crypto…
Filed under: News - @ July 14, 2024 12:16 pm