Flow

HODL

Bitcoin

Grayscale Bitcoin Trust

Bitcoin Exchange-Traded Funds (ETFs) recorded a substantial inflow of $143.1 million on July 6, 2024, showcasing a rebound in investor confidence following a dip in Bitcoin prices.&nbsp;
This investment surge aligns with a broader market recovery as traders capitalize on lower prices after the U.S. Independence Day celebrations.
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 Bitcoin ETF Flow (US$ million) – 2024-07-05 TOTAL NET FLOW: 143.1 (Provisional data) IBIT: 0 FBTC: 117.4 BITB: 30.2 ARKB: 11.3 BTCO: 0 EZBC: 0 BRRR: 0 HODL: 12.8 BTCW: 0 GBTC: -28.6 DEFI: 0 For all the data &amp; disclaimers visit:<a href="https://t.co/4ISlrCgZdk" target="_blank" rel="noopener noreferrer nofollow">https://t.co/4ISlrCgZdk</a>— Farside Investors (@FarsideUK) <a href="https://twitter.com/FarsideUK/status/1809433132812173625?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 6, 2024</a>
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The Fidelity Bitcoin ETF (FBTC) emerged as a frontrunner, drawing an impressive $117 million of the total inflows. Following closely, the Bitwise Bitcoin ETF (BITB) attracted $30.2 million, marking a pivotal growth phase as its total holdings soared to over 38,000 Bitcoins.
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 ~$30,000,000 inflows into <a href="https://twitter.com/search?q=%24BITB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BITB</a> today. Bitwise PM team efficiently purchased Bitcoin at less than half of 1 basis point of cost. Cumulatively this week <a href="https://twitter.com/search?q=%24BITB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BITB</a> had &gt;$66,000,000 of inflows, and now holds over 38,000 Bitcoin for investors. The outlook for Bitcoin has never been…— Hunter Horsley (@HHorsley) <a href="https://twitter.com/HHorsley/status/1809350708384391504?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 5, 2024</a>
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Contributions to other ETFs such as ARKB and HODL were also noteworthy, with inflows of $11.3 million and $12.8 million respectively. On the contrary, the Grayscale Bitcoin Trust (GBTC) faced a setback with a net outflow of $28.6 million, reflecting divergent investor behaviors amid the prevailing market conditions.
Hunter Horsley, CEO of Bitwise Asset Management, highlighted the strategic efficiency of his team, acquiring Bitcoin at less than half a basis point of cost. Bitwise’s operations are advancing due to its market expertise and low-cost investment strategies. Horsley remains optimistic about Bitcoin and believes that with the current price lows, new investors have a great opportunity.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also read: <a href="https://www.cryptotimes.io/2024/07/07/peter-brandt-sees-bitcoin-footshot-buy-signal-amid-volatility/" rel="noopener noreferrer nofollow">Peter Brandt Sees Bitcoin ‘Footshot’ Buy Signal Amid Volatility</a>
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Bitcoin ETFs See $143.1M Inflow as Bitcoin Price Dips

The Crypto Times

Alte articole publicate pe 7 iul. 2024

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