Bitcoin ETF

Bitcoin

Spot

<ul>
 <li>BlackRock’s spot Bitcoin ETF leads with $121.3M inflows, suggesting a potential recovery for the fund.</li>
 <li>Grayscale’s Bitcoin Trust faces $37.5M outflows, highlighting ongoing challenges in the Bitcoin ETF market.</li>
 <li>Bitcoin’s price surges to $59,189.55, up 3.40%, amid market optimism despite recent setbacks.</li>
</ul>
<p>BlackRock’s spot Bitcoin ETF, IBIT, attracted attention with $121.3 million in inflows and its the highest contributor in the Bitcoin ETFs. This marks another major influx following the $187.2 million inflow reported on July 8 by <a href="https://farside.co.uk/?p=997" rel="noopener noreferrer nofollow">Farside Investors</a>. This pattern suggests a possible recovery for BlackRock’s ETF, which had been relatively inactive in recent times.</p>
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   <p lang="en" dir="ltr">JUST IN: BlackRock spot <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> ETF IBIT had $121.3 million inflows today. <a href="https://t.co/rDxqRWsXYT" rel="noopener noreferrer nofollow">pic.twitter.com/rDxqRWsXYT</a></p>— Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1810815924825473430?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 9, 2024</a>
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<h3 class="wp-block-heading" id="h-blackrock-and-grayscale"><strong>BlackRock and Grayscale</strong></h3>
<p>On July 9, 2024, U.S. Bitcoin ETFs experienced a net inflow of $216 million, marking the third consecutive day of gains. <a href="https://cryptonewsland.com/us-spot-bitcoin-etfs-see-largest-net-inflows-in-three-weeks/" rel="noopener noreferrer nofollow">BlackRock’s spot Bitcoin ETF</a> led the way with a $121 million boost, while Grayscale’s Bitcoin Trust saw a $37.5 million outflow. The total net assets for Bitcoin ETFs reached $50.79 billion, representing 4.45% of the Bitcoin market cap.</p>
<p>Notable spikes in inflows occurred in early March and late May 2024. Despite fluctuations, the overall trend showed growth in total net assets, reflecting increasing investor participation in Bitcoin spot ETFs. The cumulative net inflow indicates strong market interest.</p>
<p>June proved challenging for Bitcoin ETFs in general, marked by more outflows than inflows. Specifically, spot Bitcoin ETFs recorded nine days of outflows compared to ten days of inflows, with outflow values being significantly higher.</p>
<p><img decoding="async" width="602" height="268" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfU6xBbw2VHXt2rgGNzrX66Ey6B04ob-CDK6qb-HL6hHsX9-NHazlx3nko5_slSU0WzXEhPbbP1AwDwV6HZkz0yMFOojRB6HO6p2BjwLplmbkdjp5-68luMDqx2H8DfeYLP7qcE68gndZ5P3bM-d4W4QkkY?key=Lkgefd-xbLXL6CeH3VOLLA"></p>
<p>Source: <a href="https://sosovalue.com/" rel="noopener noreferrer nofollow">SoSoValue</a></p>
<h3 class="wp-block-heading" id="h-market-rebound-and-price-surge"><strong>Market Rebound and Price Surge</strong></h3>
<p>The recent bullish trend in spot <a href="https://cryptonewsland.com/u-s-bitcoin-spot-etfs-see-record-143-1m-inflows-after-price-dip/" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> aligns with a rise in Bitcoin’s price. Bitcoin rebounded to <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">$59,189.55</a>, showing a 3.40% increase over the past 24 hours. Despite recent setbacks, including miner capitulation, the release of large Bitcoin sums by the German government, and major whale sell-offs, the market sentiment remains optimistic.</p>
<h3 class="wp-block-heading" id="h-future-prospects-and-resistance-levels"><strong>Future Prospects and Resistance Levels</strong></h3>
<p>Analysts suggest that Bitcoin might reach the $100,000 mark if it can break through the $60,000 resistance level, a milestone it has yet to achieve. The market’s overall optimism contrasts with the challenges faced in the past few months. However, the continued inflows into BlackRock’s ETF could indicate renewed confidence among investors.</p>
<h4 class="wp-block-heading" id="h-read-also">Read also</h4>
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/us-spot-bitcoin-etfs-see-largest-net-inflows-in-three-weeks/" rel="noopener noreferrer nofollow">US Spot Bitcoin ETFs See Largest Net Inflows in Three Weeks</a></li>
 <li><a href="https://cryptonewsland.com/u-s-spot-bitcoin-etfs-maintain-15-day-inflow-streak-with-105m/" rel="noopener noreferrer nofollow">U.S. Spot Bitcoin ETFs Maintain 15-Day Inflow Streak with $105M</a></li>
 <li><a href="https://cryptonewsland.com/us-spot-bitcoin-etfs-draw-12-million-in-net-inflows-despite-reduced-pace/" rel="noopener noreferrer nofollow">US Spot Bitcoin ETFs Draw $12 Million in Net Inflows Despite Reduced Pace</a></li>
 <li><a href="https://cryptonewsland.com/spot-bitcoin-etfs-suffer-145-83-million-outflows-amid-market-uncertainty/" rel="noopener noreferrer nofollow">Spot Bitcoin ETFs Suffer $145.83 Million Outflows Amid Market Uncertainty</a></li>
 <li><a href="https://cryptonewsland.com/u-s-bitcoin-etfs-break-outflow-streak-with-31-million-inflow/" rel="noopener noreferrer nofollow">U.S. Bitcoin ETFs Break Outflow Streak with $31 Million Inflow</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/blackrocks-spot-bitcoin-etf-leads-with/" rel="noopener noreferrer nofollow">BlackRock’s Spot Bitcoin ETF Leads with $121M Inflow Amid Market Rebound</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

BlackRock’s Spot Bitcoin ETF Leads with $121M Inflow Amid Market Rebound

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