Bitcoin Spot ETFs Record Strong Net Inflow of $216M as Investors Buy the Dip
Spot Bitcoin exchange-traded funds (ETFs) saw a combined net inflow of $216.33 million on Tuesday, marking the third consecutive day of positive flows.
According to data compiled by SoSoValue, BlackRock’s IBIT emerged as the leader in inflows, attracting $121.03 million, followed closely by Fidelity’s FBTC with $90.95 million.
Ark Invest and 21Shares’ ARKB also contributed significantly with $43.3 million, while VanEck’s bitcoin fund saw $3.27 million in inflows.
In contrast, Grayscale’s GBTC, the second largest bitcoin ETF, reported outflows amounting to $37.5 million, and Bitwise’s BITB noted net outflows of $4.72 million.
Overall, trading activity across the 11 spot Bitcoin funds reached $1.19 billion on Tuesday alone, underscoring robust market participation.
Since their inception in January, these ETFs have collectively accumulated a substantial net inflow of $15.27 billion.
Bitcoin’s market performance paralleled the influx of institutional investments, with its price climbing 1.58% over the past 24 hours to $58,154.
The upward movement followed a brief dip to around $54,000 last Friday.
On July 9, the total net inflow of Bitcoin spot ETFs was $216 million. Grayscale ETF GBTC had a single-day outflow of $37.4956 million. BlackRock ETF IBIT had a single-day net inflow of $121 million. Fidelity ETF FBTC had a single-day net inflow of $90.9503 million.…
— Wu Blockchain (@WuBlockchain) July 10, 2024
Analysts view recent selling pressures—from Mt. Gox repayments to German government entities liquidating Bitcoin—as creating attractive buying opportunities for investors.
CoinShares reported a substantial $441 million influx into digital asset investment products for the week, although trading volumes in exchange-traded products
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