Crypto:
30516
Bitcoin:
$57.941
% 3.86
BTC Dominance:
%53.8
% 0.36
Market Cap:
$2.14 T
% 2.91
Fear & Greed:
44 / 100
Bitcoin:
$ 57.941
BTC Dominance:
% 53.8
Market Cap:
$2.14 T

US Spot Bitcoin ETFs See Largest Inflows in Three Weeks, Surging $130 Million

Bitcoin

U.S. spot Bitcoin exchange-traded funds (ETFs) are experiencing a surge in investor interest, with a combined net inflow of $129.45 million on Monday, July 1st. This marks the fifth consecutive day of positive inflows and the largest single-day influx since June 7th, according to data from SosoValue.

Fidelity’s Wise Origin Bitcoin Trust (FBTC) led the pack with $65 million in inflows, followed by Bitwise Bitcoin ETF (BITB) at $41 million. Ark Invest’s ARK Innovation ETF (ARKB), which also provides exposure to Bitcoin, reported $13 million in net inflows.

Invesco, Galaxy Digital, VanEck, and Franklin Templeton all saw minor inflows of around or under $5 million each. Interestingly, BlackRock’s iShares Bitcoin Trust (IBIT) and Grayscale Bitcoin Trust (GBTC), the two largest spot Bitcoin ETFs by net asset value, did not record any inflows on Monday.

The combined trading volume for all 11 Bitcoin ETFs reached $1.36 billion on Monday. Since their launch in January, these ETFs have accumulated a significant net inflow of $14.65 billion.

Despite the positive news for Bitcoin ETFs, the price of Bitcoin itself dipped slightly (0.3%) in the past 24 hours, sitting at $63,094 at the time of writing (according to The Block). While it has recovered from its recent low point below $60,000 last week, Bitcoin remains considerably lower than its price peak of over $71,000 in early June.

Analysts at QCP Capital and Coinbase both highlight a historical trend of Bitcoin and Ethereum performing better in July, suggesting potential for a price increase in the coming month.

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