Bitcoin ETF

Bitcoin

Million

Spot

Grayscale Bitcoin Trust

US-based spot Bitcoin exchange-traded funds (<a href="https://www.investopedia.com/terms/e/etf.asp" data-wpel-link="external" target="_blank" rel="nofollow external noreferrer">ETF</a>s) experienced a robust influx on July 12, amassing over $310 million in inflows, marking their strongest performance since June 5. 
According to Farside Investors data, BlackRock’s iShares Bitcoin Trust led the pack with $120 million in inflows, closely followed by the Fidelity Wise Origin Bitcoin Fund with $115.1 million. 
The Bitwise Bitcoin ETF secured the third spot with $28.4 million, while the Grayscale Bitcoin Trust saw a rare inflow day of $23 million. 
The VanEck Bitcoin Trust ETF and Invesco Galaxy Bitcoin ETF also attracted $6 million and $4 million in inflows, respectively. 
Conversely, ETFs issued by Hashdex, Franklin Templeton, Valkyrie, and WisdomTree failed to register any inflows on the day. 
This surge represents the largest single-day inflow since June 5, when these ETFs garnered a total of $488.1 million. 
From Monday, July 8, to Friday, these funds collectively accumulated $1.04 billion in new investments. 
Since their launch just over six months ago, spot Bitcoin ETFs have accumulated $15.8 billion in net inflows. 
This total includes outflows of over $18.6 billion from Grayscale’s flagship Bitcoin product, which transitioned to a spot form following SEC approval in January. 
READ MORE: <a href="https://www.cryptointelligence.co.uk/uk-law-commission-no-separate-legal-oversight-needed-for-daos-calls-for-integration-into-existing-frameworks/" data-wpel-link="internal">UK Law Commission: No Separate Legal Oversight Needed for DAOs, Calls for Integration into Existing Frameworks</a> 
The Hashdex Bitcoin ETF is the only other spot Bitcoin ETF besides Grayscale’s to experience net outflows, albeit a modest $2 million. 
CoinGecko data shows Bitcoin has increased by 1.1% over the last 24 hours, currently trading at $57,858. 
However, the cryptocurrency has experienced a 15% decline in the last month and is down 21% from its all-time high. 
Looking ahead, some spot Bitcoin ETF issuers are preparing to introduce spot Ether ETFs, potentially launching as early as July 15. 
Nate Geraci, president of The ETF Store, indicated these issuers are awaiting SEC approval of their amended S-1 registration statements following initial feedback in late June. 
To submit a <a href="https://www.cryptointelligence.co.uk/category/press-releases/" data-wpel-link="internal">crypto press release (PR)</a>, send an email to <a href="mailto:sales@cryptointelligence.co.uk">sales@cryptointelligence.co.uk</a>.

Spot Bitcoin ETFs Surge: Record $310 Million Inflows on Strongest Day Since June

Crypto Intelligence

Other articles published on Jul 14, 2024

Altcoin Revolution - Q3 Expecting Big Things From: (MEW), (AXS), (APORK), (NEAR)

A Guide To Starting A Crypto Consulting Firm

Crypto: Shiba Inu Envisions Imminent ETF Thanks to 4 Key Arguments!

Is Bitcoin’s Price at its Lowest Yet or Should Traders Be Patient?

Crypto Market Crash: Less Than Half Of All Investors Are Still Bullish

XRP Gains Momentum: Predictions Point to Substantial Growth

Join our free newsletter for daily crypto updates!