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Bitcoin ETF

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-etfs-see-significant-inflows-on-july-1/" data-wpel-link="internal">Bitcoin ETFs See Significant Inflows on July 1</a><br></p>
<p class="p1" style="text-align: justify">Based in the United States, 11 spot <strong>Bitcoin</strong> exchange-traded funds (ETFs) managed to see a total daily net inflow of $129.45 million on July 1, marking the fifth consecutive day of positive flows for the funds. The net inflows recorded on July 1 also indicated the largest fund acquisition seen by the ETF funds since June 7.</p> 
<h2 class="p1" style="text-align: justify" id="continued-inflows-into-etf-funds">Continued Inflows into ETF Funds</h2> 
<p class="p1" style="text-align: justify">According to SosoValue <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>, Fidelity’s <strong>FBTC</strong> fund led the inflows with $65 million yesterday, followed by Bitwise’s BITB fund with $41 million. Ark Invest and 21Shares’ ARKB fund reported a net inflow of $13 million. Funds from Invesco and Galaxy Digital, VanEck, and Franklin Templeton saw relatively small inflows of around $5 million or less.</p> 
<p class="p1" style="text-align: justify">The two largest spot <strong>Bitcoin</strong> ETF funds by net asset value, BlackRock’s IBIT fund and Grayscale’s GBTC fund, did not record any inflows on July 1. The 11 Bitcoin funds saw approximately $1.36 billion in trading volume on July 1. Since their inception in January, the ETF funds have achieved a total net inflow of $14.65 billion.</p> 
<p><img decoding="async" class="aligncenter wp-image-367090 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/soso.png" alt="" width="2295" height="754"></p> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-with-bitcoin">What’s Happening with Bitcoin?</h2> 
<p class="p1" style="text-align: justify">Meanwhile, according to Tradingview data, at the time of writing, the price of <strong>Bitcoin</strong> was trading at $63,050, up 0.25% in the last 24 hours. Bitcoin rose from a brief low below $60,000 last week but continues to trade below the price levels seen above $71,000 in early June.</p> 
<p class="p1" style="text-align: justify"><strong>QCP Capital</strong> analysts stated in a report published on July 1 that both Bitcoin and <a href="https://en.coin-turk.com/which-is-the-best-altcoin/" data-wpel-link="internal">Ethereum</a> tend to perform better in July due to historically observed positive seasonality. Coinbase analysts also highlighted the positive seasonal trend in July.</p> 
<p class="p1" style="text-align: justify">With all these developments, eyes are particularly on the macroeconomic data to come from the United States. Positive indications from this data regarding <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rate</a> cut decisions could trigger a rise in risky investment products such as Bitcoin and altcoin projects.</p> 
<ul class="Summary"> 
 <li>Bitcoin ETFs saw $129.45 million net inflow on July 1.</li> 
 <li>Fidelity’s FBTC fund led with $65 million inflow.</li> 
 <li>Bitcoin price traded at $63,050, up 0.25% in 24 hours.</li> 
</ul> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-etfs-see-significant-inflows-on-july-1/" data-wpel-link="internal">Bitcoin ETFs See Significant Inflows on July 1</a></h5>

Bitcoin ETFs See Significant Inflows on July 1

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