2024

Bitcoin ETF

Bitcoin

Bitcoin ETF (exchange-traded fund) inflows hit $654 million over the past 3 days, but still failed to offset selling of seized Bitcoin by German authorities.
The total net inflows across all ETFs for July 9 totaled 3,760 Bitcoin estimated to be worth around $216.4 million, <a href="https://farside.co.uk/?p=997" rel="noopener noreferrer nofollow">according</a> to data from Farside Investors. This comes after the funds collectively received $294.8 million and $143.1 million on July 8 and July 5, respectively.
<img decoding="async" src="https://coingape.com/wp-content/uploads/2024/03/BlackRock.jpg" alt="BlackRock's IBIT Becomes Largest Bitcoin Fund Overtaking Grayscale">
<h2 id="span-style-font-weight-400-blackrock-s-ibit-leads-in-bitcoin-etf-inflows-span">BlackRock’s IBIT Leads In Bitcoin ETF Inflows</h2>
BlackRock’s IBIT recorded the largest inflows after $121.03 million was added to its capital reserves on July 9. Fidelity’s FBTC took second place with its <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" rel="noopener noreferrer nofollow">net inflows</a> for yesterday reaching $90.95 million.&nbsp;
ARKB, a fund jointly formed by Ark Invest and 21Shares, registered $43.3 million in inflows. Meanwhile, VanEck’s Bitcoin fund came in with the fourth biggest inflows for the day with its $3.27 million capital boost.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 🇺🇸 ETFs bought 3,760 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> ($216.4m) on July 9 🚀🚀
 Highlights:
 IBIT +2,100 BTC FBTC +1580 BTC ARKB +750 BTC GBTC -650 BTC <a href="https://t.co/z5hLWXQorI" rel="noopener noreferrer nofollow">pic.twitter.com/z5hLWXQorI</a>
 — Thomas | heyapollo.com (@thomas_fahrer) <a href="https://twitter.com/thomas_fahrer/status/1810862019073167728?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 10, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
However, not all U.S. spot <a href="https://insidebitcoins.com/news/bitcoin-price-prediction-etfs-buy-137-million-worth-of-btc-as-investors-flock-to-this-learn-to-earn-token-and-its-705-apy" rel="noopener noreferrer nofollow">Bitcoin</a> ETFs recorded inflows. Grayscale’s GBTC continued to see funds exit its reserves since its conversion to a spot ETF at the start of the year. Yesterday saw another $37.5 million pulled out of the fund. Similarly, Bitwise’s BITB suffered outflows of $4.72 million.
<h2 id="span-style-font-weight-400-btc-stuck-below-60k-as-german-authorities-continue-to-exert-selling-pressure-span">BTC Stuck Below $60K As German Authorities Continue To Exert Selling Pressure</h2>
Despite the positive 3-day streak of inflows into these funds, the <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin price</a> remains down more than 2% on the weekly timeframe to trade at $59,275.04 as of 2:55 a.m. EST. 
This lackluster price performance is partly due to the large amount of BTC being sold off by Germany’s federal criminal police, the Bundeskriminalamt (BKA).
The BKA seized nearly 50,000 <a href="https://insidebitcoins.com/news/mt-gox-moves-2-7-billion-bitcoin-as-selloff-fears-trigger-crypto-crash" rel="noopener noreferrer nofollow">Bitcoin</a> at the start of the year during a probe into a movie pirating website. Since July 5, a wallet belonging to the BKA has been actively reducing its holdings, with more than $850 million in BTC being sent to market makers and centralized exchanges since the start of the month, <a href="https://t.co/ePjzPDKmos" rel="noopener noreferrer nofollow">data</a> from Arkham Intelligence shows.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Germany selling all their <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> will go down as one of the most retarded things their politicians ever did. <a href="https://t.co/dLewFC1duv" rel="noopener noreferrer nofollow">pic.twitter.com/dLewFC1duv</a>
 — Uncle Rockstar Developer (@r0ckstardev) <a href="https://twitter.com/r0ckstardev/status/1810619879944245677?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 9, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
BKA’s wallet still holds 23.964K BTC, which is currently valued at more than $1.42 billion. Over the past 24 hours, the leading crypto’s 2% rise has boosted the dollar value of the holdings by more than $42.2 million.
<h3 id="span-style-font-weight-400-related-articles-span">Related Articles:</h3>
<ul>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/hamster-kombat-surges-14000-after-bybit-opens-pre-market-trading" rel="noopener noreferrer nofollow">Hamster Kombat Surges 14,000% After Bybit Opens Pre-Market Trading</a></li>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/trending-meme-coin-to-invest-in-today-tuesday-july-9-peipei-eth-minu-shiba-inu-base-dawgz" rel="noopener noreferrer nofollow">Trending Meme Coin To Invest In Today, Tuesday, July 9 – PeiPei (ETH), Minu, Shiba Inu, Base Dawgz</a></li>
 <li style="font-weight: 400;"><a href="https://www.linkedin.com/pulse/best-altcoins-invest-unveiling-top-picks-maximum-returns-calsona-9ceye/" rel="noopener noreferrer nofollow">Best Altcoins to Invest In: Unveiling Top Picks for Maximum Returns!</a></li>
</ul>

Bitcoin ETF Inflows Hit $654 Million In 3 Days, But Still Fail To Offset German Authority Sales

Table of Contents

Inside Bitcoins

Другие статьи, опубликованные 10 июл. 2024 г.

Andrew Tate calls Crypto Influencers “Losers”, Wants Culture Shift

Bitcoin Boosts Altcoins Recovery

Bitcoin (BTC) Eyes Major Resistance Amid Market Speculation: Details

XRP Price Increases by 3.5% in 24 Hours

Polygon Records Over 1 Million Active Addresses – Impact On MATIC Price

Dev Release 68 Reveals UTXO Integration Details! BDAG Coin’s Value Rockets 1300% as Dashboard Shines

Join our free newsletter for daily crypto updates!