Franklin

Galaxy

Bitcoin

Gains

<ul>
 <li>The net inflows on Monday were the highest for the Bitcoin ETFs since June 7.</li>
 <li>Yesterday’s inflows were $65 million for Fidelity’s FBTC and $41 million for Bitwise’s BITB.</li>
</ul>
Monday was the fifth day in a row that the eleven U.S. spot bitcoin exchange-traded funds have reported positive flows, with a total of $129.45 million. Additionally, the net inflows on Monday were the highest for the ETFs since June 7.
According to statistics from SosoValue, yesterday’s inflows were $65 million for Fidelity’s FBTC and $41 million for Bitwise’s BITB. A total of $13 million came into Ark Invest and 21Shares’ ARKB. Investments of less than $5 million were received by funds managed by VanEck and Franklin Templeton, as well as Invesco and Galaxy Digital.
The two biggest spot bitcoin ETFs by net asset value, IBIT (<a href="https://thenewscrypto.com/u-s-bitcoin-etfs-see-226-2m-net-outflow-blackrocks-ibit-defies-trend/" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a>) and GBTC (<a href="https://thenewscrypto.com/blackrock-surpasses-grayscale-to-become-largest-bitcoin-etf-fund/" target="_blank" rel="noopener noreferrer nofollow">Grayscale</a>), both had no transactions on Monday. Moreover, on Monday, trading volume for the 11 bitcoin funds was over $1.36 billion. Since their launch in January, the ETFs have had a net inflow of $14.65 billion.
<h3 class="wp-block-heading" id="h-bitcoin-price-remains-stable">Bitcoin Price Remains Stable</h3>
While it has bounced back from last week’s low of around $60,000, Bitcoin is still trading at a considerable discount compared to its early June price of over $71,000. At the time of writing, Bitcoin is trading at $62,523 as per data from CMC.
According to a research released on Monday by QCP Capital, favorable seasonality in July has traditionally led to higher performance for both bitcoin and ether. Promising seasonal trends were also highlighted by <a href="http://coinbase.com" target="_blank" rel="noopener noreferrer nofollow">Coinbase</a> analysts for July.
Tuesday saw minimal movement in the price of <a href="http://bitcoin.org" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> as investors awaited news on the distribution of tokens from the now-defunct Mt Gox exchange and keenly followed interest rate signals. Despite seemingly improved mood after high withdrawals during June, data from fund flow shows that digital assets had a third consecutive week of outflows.
Highlighted Crypto News Today:
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Bitcoin ETFs Attract $130M in Inflows, Marking 5th Straight Day of Gains

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