As a researcher with a background in cryptocurrencies and financial markets, I find the recent surge in inflows into spot Bitcoin exchange-traded funds (ETFs) on July 12 to be an intriguing development. The significant inflows of over $310 million, led by BlackRock’s iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund, represent the largest single-day inflows since June 5.
On July 12, there was a notable increase in investments in Bitcoin (BTC) exchange-traded funds (ETFs), with over $310 million poured in—the largest inflow since early June.
As a crypto investor, I closely monitor the inflows into various Bitcoin investment products to gauge market sentiment. According to SoSoValue’s latest data, IBIT and FBTC were the top performers last week, attracting inflows of $120.03 million and $115.14 million respectively. BITB followed suit with an inflow of $28.42 million, while GBTC surprisingly experienced a positive flow of $23.01 million.
On a given day, the VanEck Bitcoin Trust ETF (HODL) and Invesco Galaxy Bitcoin ETF (BTCO) attracted new investments totaling $10.59 million. Contrastingly, Hashdex, Franklin Templeton, Valkyrie, and WisdomTree’s Bitcoin ETFs did not receive any inflows during this period.
On July 12, there was the biggest infusion of funds into Bitcoin ETFs since June 5, which saw approximately $488 million poured in without any single day experiencing an outflow.
According to HODL15Capital, which monitors the ETF market for Bitcoin, the total amount of Bitcoin held by U.S. spot Bitcoin ETFs has reached a new record of approximately 888,607 coins.
🧮 Updated USA Bitcoin ETF holdings (including today’s inflows).New all-time high of 888,607 BTC held by the U.S. ETFs 👇 — HODL15Capital 🇺🇸 (@HODL15Capital) July 13, 2024
According to Farside Investors’ figures, the latest additions bring the current week’s total investments to a staggering $1.04 billion. Since their debut in early 2023, Bitcoin spot ETFs have amassed approximately $16 billion through net inflows.
As a researcher examining the data, I’ve discovered that over $18.6 billion has left Grayscale Bitcoin Trust (GBTC) since it converted into a spot Bitcoin exchange-traded fund six months ago. It’s intriguing to note that, despite these outflows, GBTC remains the second-largest ETF in terms of net assets, holding approximately $15.73 billion worth of Bitcoins.
The recent report of substantial Bitcoin ETF investments appears to have influenced the value of the cryptocurrency, currently priced at $58,543 – a 2.4% increase compared to its figure from the previous day.
Despite a decrease in Bitcoin trading volume, amounting to approximately $21.76 billion in the past 24 hours – a 23.29% drop compared to the preceding day – the price still experienced an increase.
Read More
Sorry. No data so far.
2024-07-13 17:08