Bitcoin ETF

Bitcoin

Spot

<a href="https://www.newsbtc.com/news/bitcoin/institutional-buyers-of-bitcoin/" target="_blank" rel="noopener nofollow">Institutional investors</a> have been buying the dip following Bitcoin’s recent downtrend. This is evident in the increased demand for the <a href="https://bitcoinist.com/breaking-spot-bitcoin-etfs-approved-by-us-sec/" target="_blank" rel="noopener ">Spot Bitcoin ETFs</a>, which recorded their best weekly outing in a long while.&nbsp; 
<h2 id="b-spot-bitcoin-etfs-record-best-inflows-in-over-a-month-b">Spot Bitcoin ETFs Record Best Inflows In Over A Month</h2> 
According to data from JPMorgan, the <a href="https://bitcoinist.com/bitcoin-spot-etfs-inflow/" target="_blank" rel="noopener ">Spot Bitcoin ETFs</a> witnessed their best inflows in over a month, with $882 million flowing into these funds in the week that ended July 11. This represents their best weekly inflow since May 23, when they recorded weekly net inflows of $1,022. 
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-310118" src="https://bitcoinist.com/wp-content/uploads/2024/07/A_2b3f39.png?resize=605%2C268" alt="" width="605" height="268" data-recalc-dims="1"> 
Interestingly, an addition of the $310.1 million net inflows that these Spot Bitcoin ETFs witnessed on June 12, according to <a href="https://x.com/FarsideUK/status/1811970658701611333" target="_blank" rel="noopener nofollow">data</a> from Farside Investors, shows that this was their best weekly outing since March. The Friday tally means these funds took in almost $1.05 million this week.&nbsp; 
Meanwhile, Friday’s total net flows of $310.1 million <a href="https://x.com/CarpeNoctom/status/1811927644931236192" target="_blank" rel="noopener nofollow">represent</a> the best daily outing for these Spot Bitcoin ETFs since June 5. <a href="https://bitcoinist.com/blackrock-bitcoin-etf-ibit-registers-zero-inflows/" target="_blank" rel="noopener ">BlackRock’s IBIT</a> and <a href="https://bitcoinist.com/fidelity-gbtc-spot-bitcoin-etfs/" target="_blank" rel="noopener ">Fidelity’s FBTC</a> accounted for most of the flows recorded on the day, with $120 million and $115.1 million flowing into these funds, respectively.&nbsp; 
<a href="https://bitcoinist.com/bitcoin-spot-etfs-witnes-month-high-inflow-downturn/" target="_blank" rel="noopener ">Bitwise’s BITB</a>, Grayscale’s GBTC, Ark Invest’s ARKB, and VanEck’s HODL also recorded inflows of $28.4 million, $23 million, $13 million, and $6.6 million respectively. The other Spot Bitcoin ETFs failed to register any inflow on July 12.&nbsp; 
According to <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" target="_blank" rel="noopener nofollow">data</a> from Soso Value, these funds have now taken in total net inflows of $15.81 million since they were approved in January. This includes the $18.64 billion net outflows that Grayscale’s GBTC has recorded during this period. The net inflows that BlackRock’s IBIT ($18.26 billion) has taken in during this period have been able to plug the Grayscale bleed.&nbsp; 
<img loading="lazy" decoding="async" class="size-full" src="https://www.tradingview.com/x/n6aTN4zn/" width="1835" height="883"> 
The other Spot Bitcoin ETF issuers have also played their part, with all these funds boasting net inflows. Fidelity’s FBTC is second behind IBIT, with total net outflows of $9.72 billion <a href="https://bitcoinist.com/breaking-spot-bitcoin-etfs-approved-by-us-sec/" target="_blank" rel="noopener ">since launch</a>. ARKB and BITB are third and fourth, with total net inflows of $2.5 billion and $2.13 billion, respectively.&nbsp; 
<h2 id="b-worst-is-almost-over-for-the-crypto-market-b">Worst Is Almost Over For The Crypto Market</h2> 
The crypto market has been in the red these past weeks thanks to the <a href="https://bitcoinist.com/german-government-bitcoin-selling-spree-continues/#:~:text=Bitcoin%2C%20the%20largest%20cryptocurrency%20asset,potential%20impact%20on%20the%20crypto" target="_blank" rel="noopener ">German government</a>’s Bitcoin selling spree, which began last month. However, the worst looks to be almost over, as <a href="https://platform.arkhamintelligence.com/explorer/entity/germany" target="_blank" rel="noopener nofollow">data</a> from the <a href="https://bitcoinist.com/multiple-bitcoin-etf-addresses-disclosed/" target="_blank" rel="noopener ">on-chain analytics platform Arkham Intelligence</a> shows that the German government has no Bitcoin left in its reserves. 
Based on this and with the aid of the Spot Bitcoin ETFs, Bitcoin looks primed to recover and reclaim the $60,000 support. The <a href="https://bitcoinist.com/sec-grants-historic-approval-for-ethereum-etfs/" target="_blank" rel="noopener ">Spot Ethereum ETFs</a> are also expected to launch soon, with market experts like <a href="https://bitcoinist.com/bloomberg-analysts-take-on-spot-etf-approval-timing/" target="_blank" rel="noopener ">Bloomberg analyst James Seyffart</a> predicting they could begin trading next week. This will provide more bullish momentum for Bitcoin and the broader crypto market.&nbsp; 
Featured image from Pexels, chart from TradingView

Spot Bitcoin ETF Inflows Reach 2-Month High – Here’s How Much They Bought

Daftar Isi

Bitcoinist

Artikel lain yang dipublikasikan pada 13 Jul 2024

Billion-Dollar Futures: Crypto Pioneers Peg BlockDAG at $30 by 2030; SHIB’s Rally & PEPE’s Upward...

As FLR Crypto and AAVE Prices Fluctuate, BlockDAG Stands Out as a Leader in Stable Cryptocurrency...

XRP Shows Signs of Bullish Breakout Amidst Forming Falling Wedge

Spot Bitcoin ETFs See Highest Inflows On July 12

Leave Brett and Celestia Behind: MoonBag is The Future! Join the $MBAG Presale Now

Have The Fantom (FTM) Investors Left The Opera? Rollblock (RBLK) And Stacks (STX) Look Like The N...

Bergabunglah dengan buletin gratis kami untuk pembaruan kripto harian!