Spot Bitcoin ETFs See $423M in Net Inflows, Maintaining 8-Day Streak
Spot Bitcoin exchange-traded funds (ETFs) in the United States saw $423 million in net inflows on Tuesday, marking the eighth consecutive day of positive flow for these funds.
Among the spot Bitcoin ETFs, BlackRock’s IBIT emerged as the leader in terms of net inflows, reporting $260.23 million, its highest since June 6, according to data from SoSoValue.
The strong performance of IBIT was accompanied by significant trade volume, with approximately $1.02 billion worth of trades executed on Tuesday.
Fidelity’s FBTC followed closely with $61.05 million in net inflows, while Ark Invest’s ARKB and 21Shares’ ARKB saw $29.85 million and $22.04 million inflows, respectively.
Invesco, Galaxy Digital, Bitwise, Franklin Templeton, and Valkyrie also experienced net inflows into their spot Bitcoin funds.
Notably, Grayscale’s GBTC fund did not record any flow activity on Tuesday, suggesting a temporary lull in investor interest.
The total trading value of U.S. spot Bitcoin funds reached $1.76 billion on that day.
Bitcoin spot ETFs had a total net inflow of $423 million on July 16, continuing net inflows for 8 consecutive days. BlackRock ETF IBIT had a single-day inflow of $260 million, and Fidelity ETF FBTC had a single-day inflow of $61.053 million. https://t.co/YanotfbWiJ
— Wu Blockchain (@WuBlockchain) July 17, 2024
Since their launch in January, these ETFs have amassed a cumulative net inflow of $16.53 billion, demonstrating the sustained interest from investors.
During the same period, the price of Bitcoin experienced a 1.61% increase, reaching $65,865, with a temporary surge above $66,000.
In a recent note, Matteo Greco, a Research Analyst at Fineqia International, noted the bullish trend for Bitcoin over the past week.
The cryptocurrency’s
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