Between July 15 and July 19, 2024, the total net inflow for spot Bitcoin ETFs reached $17.08 billion. 
<h2 class="wp-block-heading" id="strong-fbtc-registers-largest-inflow-strong">FBTC registers largest inflow</h2> 
On July 19 spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) ETFs recorded inflows of $383.6 million, the second highest of the month, following a <a href="https://crypto.news/bitcoin-hits-66k-as-bitcoin-etfs-witness-record-422-5m-inflows/" target="_blank" rel="noreferrer noopener">record</a> $422.9 that came on July 16. 
The <a href="https://crypto.news/tag/fidelity/" target="_blank" rel="noreferrer noopener">Fidelity</a> Wise Origin Bitcoin Fund (FBTC) and BlackRock’s iShares Bitcoin Trust (IBIT) continued to lead the charge, bringing in $141 million and $116.2 million respectively, as per <a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" data-type="link" data-id="https://sosovalue.com/assets/etf/us-btc-spot" rel="">data</a> from SoSoValue. 
<figure class="wp-block-image size-full">
 <picture loading="lazy" decoding="async" class="wp-image-14286010"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/07/Screenshot-Capture-2024-07-20-11-43-33.png.webp"> 
 <img loading="lazy" decoding="async" width="989" height="417" src="https://crypto.news/app/uploads/2024/07/Screenshot-Capture-2024-07-20-11-43-33.png" alt="Spot Bitcoin ETFs witness substantial inflows as broader market takes bullish turn - 35"> 
 </picture> 
 <figcaption class="wp-element-caption">
 Spot Bitcoin ETF flowS for July 19 | Source: SoSoValue
 </figcaption>
</figure> 
Across the board, Bitcoin ETFs such as the Bitwise Bitcoin ETF (BITB) and the VanEck Bitcoin Trust ETF (HODL) saw smaller yet significant inflows, reinforcing the trend of increasing investor interest. 
Bitwise’s BITB had the third-highest inflow at $44.6 million, closely followed by VanEck’s HODL, which contributed $41.8 million to the day’s total. 
Grayscale’s GBTC bucked a run of consecutive negative flows to bring in $20.3 million and maintained its market presence with $18.29 billion in net assets. 
Elsewhere, the Coinshares <a href="https://crypto.news/tag/valkyrie/" target="_blank" rel="noreferrer noopener">Valkyrie</a> Bitcoin Fund ETF (BRRR) and Invesco’s BTCO managed $7.6 million and $6.4 million respectively. 
While ARK’s AKB posted no action whatsoever, Franklin Templeton’s EZBC and WisdomTree’s BTCW closed out the day’s trading with $3.9 million and $1.8 million in inflows respectively. 
 You might also like: <a href="https://crypto.news/ethereum-solana-touch-key-levels-as-bitcoin-spikes/"> Ethereum, Solana touch key levels as Bitcoin spikes </a> 
<h2 class="wp-block-heading" id="strong-good-week-for-spot-bitcoin-etfs-strong">Good week for spot Bitcoin ETFs</h2> 
Overall, throughout the week, the <a href="https://crypto.news/tag/bitcoin-etf/" target="_blank" rel="noreferrer noopener">spot Bitcoin ETF</a> market hit a six-week-high in inflows, driven by renewed investor confidence and market optimism. Data from Farside Investors and SoSoValue highlighted the influx, especially the $422.5 million in inflows by July 16.&nbsp; 
Despite the midweek <a href="https://crypto.news/spot-btc-etf-inflow-plunged-87-crypto-market-faces-correction/" target="_blank" rel="noreferrer noopener">correction</a> fears noted by crypto.news, when ETF inflows plunged 87%, soon after the record-setting day, the overall sentiment remained positive. 
Interestingly, the surge in spot BTC ETF uptake was mirrored by Bitcoin’s improving performance, which saw a 5% uptick in the last 24 hours and a 14.4% increase over the week. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXcJ8X9in3NrDzAQkDnZ-G28oHH2A7Ptm-GfYHolyUDiLGGhRPSdhoWmsXCCLmvMRzkp_0xdTdApu1gLdjAlNHMnqkKwYgYrg1hyx7kBh3WzibNep1YPwJJh_AqhyhkHtdCm0DUFyCbzXCkKOpyGs4rwU443?key=gSDaUwYQeH5GhVYYYKofDg" alt="Spot Bitcoin ETFs witness substantial inflows as broader market takes bullish turn - 36">
 <figcaption class="wp-element-caption">
 Bitcoin 24-hour price chart | Source: CoinGecko
 </figcaption>
</figure> 
At the time of writing, Bitcoin was trading at $66,541, giving it a market capitalization of $1.3 trillion. While the current price is still nearly 10% lower than the all-time high price, it has still seen Bitcoin outperform the global crypto market which is itself up by 10.50% according to <a href="https://www.coingecko.com/en/coins/bitcoin" target="_blank" rel="">information</a> from CoinGecko. 
 Read more: <a href="https://crypto.news/bitcoin-eyes-67k-amid-crowdspark-outage-debacle/"> Bitcoin eyes $67k amid CrowdStrike outage debacle </a>

Spot Bitcoin ETFs witness substantial inflows as broader market takes bullish turn

Зміст

crypto.news

Інші статті, опубліковані 22 лип. 2024 р.

Metaplanet Buys 20.38 BTC, Finishes $6.26M Bitcoin Plan, Stock Jumps 19%

Investors More Bullish On Rollblock Despite Cardano Chang Hard Fork Upgrade and XRP Price Surge

Is it time to ban football fan tokens?

Crypto Market Trends 2024: CoinGecko Report Reveals Surprising Insights

Toncoin Decreases More Than 3% Within 24 hours

Is the ETH ETF launch a ‘sell the news’ scenario?

Приєднуйтеся до нашої безкоштовної розсилки для отримання щоденних оновлень щодо крипто!