Bitcoin

Million

Billion

Spot

Grayscale Bitcoin Trust

On July 5, the total net inflow of spot Bitcoin ETFs was recorded at $143.1 Million with a cumulative net inflow of $14.76 Billion and $2.81 Billion in total value traded. After continuous outflows for two consecutive days, the Exchange Traded Funds (ETF) market took a U-turn and hit its highest Inflow for the July month.&nbsp;&nbsp; 
<img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXc6eZ5BZ8cAAfIQPvXh0swaxe_lu0bVCTHxtbIqNf6bixPCXWlqBXPMPoQx1HOYADgDW-zoj6iNTqZmYIfOIeWZtdaTGh4F81yQR2DsU5BNbv19eC65vCStwQAqbskvFLMQhIr4RBQ0OKF2Jky68784bk5F?key=3g0LByBi0V9m1H5XQjuJ_A" width="1059" height="501">
Source: SoSo Value&nbsp;
A sudden drop in Bitcoin (BTC) price from $58,159.05 on July 4 to $53.906.57 on July 5 made individuals invest in the asset. <a href="https://www.coingabbar.com/en/crypto-currency-news/bitcoin-drops-below-55k-mt-gox-transfers" title="Mt. Gox" class="f-link" rel="noopener noreferrer nofollow">Mt. Gox</a> announced repayments in BTC and Bitcoin cash to the creditors, which created panic among the investors. Result of this, BTC recorded high liquidity and dropped by 6.90% in the past 7 days.&nbsp; &nbsp;
At press time, BTC was hovering at $56,443.13, after an intraday spike of 3.80% with $1,113,026,569,483 in market cap and $40,925,317,394 in 24-hour volume.
Fidelity Wise Origin Bitcoin Fund (FBTC) and Bitwise Bitcoin ETF (BITB) played a key role in boosting the spot Bitcoin ETFs. However, they failed to cross the all-time high in net inflows of 1.05 Billion, recorded on 12 March 2024.
<h3 id="span-span-data-font-font-size-style-font-size-16px-fidelity-and-bitwise-the-game-changers-span-span">Fidelity and Bitwise: The Game Changers</h3>
At the time of writing, FBTC was trading at $49.43, after a decline of 6.51% in a day. The ETF&nbsp; had a single-day inflow of $117.38 Million with $9.36 Billion in cumulative net inflow, showcasing investors' trust towards Fidelity and its offerings.
The second position was secured by BITB with $30.19 Million in net inflow and $2.08 Billion in cumulative net inflow. At press time, BITB was hovering at $30.82, after an intraday drop of 6.46%. Moreover, VanEck Bitcoin Trust (HODL) also performed well in terms of one-day net inflows, recording $12.79 Million and $543.11 Million in cumulative net inflow.
The data indicates that investors are confident about FBTC and BITB, they are more likely to invest in it, leading to more inflows.
<a href="https://www.coingabbar.com/en/crypto-currency-news/zcash-jumps-20-after-grayscales-privacy-based-etf" title="Grayscale" class="f-link" rel="noopener noreferrer nofollow">Grayscale</a> Bitcoin Trust (GBTC), alternatively, was the least trusted by investors and recorded a net outflow of $28.5713 Million on a single day. Since the launch of spot Bitcoin ETFs, GBTC remained an ordinary investment option for investors as individuals sell more shares.
According to Coinglass, Spot Bitcoin ETFs hold $3.21 Billion in total volume, $50.87 Billion in total market cap, and $50.08 Billion in assets under management (AUM). The surge in net inflows and positive trend underscores rising investor interest and a bullish outlook for BTC.
<h4>Conclusion &nbsp;</h4>
The spot Bitcoin ETF market experienced a significant turnaround on July 5, with a record inflow for the month, despite a recent price drop in Bitcoin. This influx, led by FBTC and BITB, reflects growing investor confidence, although they did not surpass the all-time high set in March. The market's resilience, highlighted by the substantial inflows into FBTC and BITB, contrasts with the outflows from Grayscale Bitcoin Trust, indicating a shift in investor preference.&nbsp;
Also Read:&nbsp;&nbsp;<a href="https://www.coingabbar.com/en/crypto-currency-news/spot-solana-etfs-rise-future-outlook" title="VanEck &amp; 21Shares Files for Spot Solana ETF; What’s Next For SOL?" class="f-link" rel="noopener noreferrer nofollow">VanEck &amp; 21Shares Files for Spot Solana ETF; What’s Nex</a>

Spot Bitcoin ETFs Rally with Record Inflows Amid Price Fluxes

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Coingabbar

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