As a seasoned researcher with a background in financial markets and digital assets, I find the recent trend of US Bitcoin spot ETFs surpassing $17 billion in total net inflows to be an intriguing development. The data from Farside Investors highlights some interesting insights – BlackRock’s IBIT dominating the market with impressive net inflows of $18.968 billion, and Fidelity’s FBTC following closely with $9.962 billion.
The data collected by Farside Investors indicates that the assets in US Bitcoin spot exchange-traded funds (ETFs) have exceeded a total of $17 billion due to net investments.
Based on the information available, BlackRock’s IBIT has led the way in contributing to growth, bringing in a substantial amount of $18.968 billion through net inflows. Likewise, Fidelity’s FBTC has made a noteworthy impact with $9.962 billion in net inflows.
Despite the fact that not every investment fund has reported inflows, Grayscale’s GBTC underwent a significant outflow of approximately $18.694 billion, implying a shift in investor sentiment towards Bitcoin ETFs.
On July 17th, US Bitcoin ETFs tracking the spot price of Bitcoin collectively brought in $53.35 million in new investments, marking their ninth consecutive day of positive investment flows. However, this amount is a decrease from the substantial $422 million influx recorded on the previous day.
During this period, BlackRock’s IBIT stood out with the largest net inflows amounting to $110.37 million and a significant trading volume of $1.21 billion. Fidelity’s FBTC was the only other fund that reported inflows on July 17, with a modest addition of $2.83 million.
The Grayscale Bitcoin Trust (GBTC) and BitwiseBitcoin Fund (BITB) experienced outflows of approximately $53.86 million and $6 million respectively in the latest reporting period. Seven other funds, such as ARK Invest and 21Shares’ ARKB, did not report any inflows or outflows for the day.
On July 17, the aggregate trade value for U.S. spot Bitcoin funds amounted to $1.79 billion. This figure is notably smaller than the record high of around $8 billion in daily trading volumes witnessed during March.
As of the CoinMarketCap, Bitcoin is priced at $67,150, a 0.74% increase in the last 24 hours.
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2024-07-21 18:44