New data has revealed that daily inflows into spot market Bitcoin exchange-traded funds (ETFs) have reached a six-week high, with over $422 million worth of inflows on July 16th. The majority of these inflows came from BlackRock’s IBIT ETF, bringing in a staggering $260.2 million. Other ETFs that saw significant inflows include Fidelity’s FBTC, ARK Invest’s ARKB, VanEck’s HODL, and Invesco’s BTCO, with each seeing millions of dollars in inflows.
In the previous month, Bitcoin ETFs had their second-best day on record, with inflows topping over $886 million. The highest day on record was back in March, with over $1 billion of inflows into Bitcoin ETFs. The approval of bids to create ETFs based on the crypto asset by the U.S. Securities and Exchange Commission in January marked a significant milestone in attracting billions of dollars to the crypto market. The SEC’s decision was influenced by a ruling that required consistency in approving spot market BTC ETFs after approving futures BTC ETFs.
Since their listing, Bitcoin ETFs have amassed over $16.5 billion worth of cumulative inflows, according to data from SoSo Value. Currently, Bitcoin is trading at $64,500, with a marginal decrease in the last 24 hours. This recent surge in inflows into Bitcoin ETFs highlights the growing interest and investment in the cryptocurrency market, attracting both institutional and retail investors.
To stay up-to-date with the latest developments in the cryptocurrency market, users can subscribe to email alerts for timely updates directly to their inbox. Additionally, for more news and insights, readers can follow the platform on various social media channels such as X, Facebook, and Telegram. The consistent growth in Bitcoin ETF inflows reflects a growing confidence in the digital asset and its potential for future gains. With institutional players like BlackRock and Fidelity leading the way, the cryptocurrency market is poised for further expansion and mainstream adoption.
As the market continues to evolve and mature, developments in Bitcoin ETFs serve as a key indicator of investor sentiment and market trends. The recent surge in inflows into Bitcoin ETFs signals a growing appetite for exposure to the digital asset among institutional investors. With regulatory approvals paving the way for new investment vehicles, such as ETFs, the cryptocurrency market is gaining legitimacy and attracting significant capital inflows. As Bitcoin continues to gain mainstream acceptance and adoption, the market is poised for further growth and expansion in the coming months.
