Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

Spot

Spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) exchange-traded funds (ETFs) witnessed a significant surge on July 12, with inflows surpassing $310 million—the highest since June 5. 
BlackRock’s iShares Bitcoin Trust (IBIT) and the <a href="https://crypto.news/tag/fidelity/" target="_blank" rel="noreferrer noopener">Fidelity</a> Wise Origin Bitcoin Fund (FBTC) led the inflows, bringing in $120.03 million and $115.14 million respectively, as per <a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" rel="">information</a> from SoSoValue. The Bitwise Bitcoin ETF (BITB) followed with $28.42 million, and the Grayscale Bitcoin Trust (GBTC) experienced a rare inflow of $23.01 million. 
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 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdCCQlrvibCS03Gn8LSDQWVAyAlvLnJZSiSR-9EodNLcmGmllTisfTPTRoSVGH6OmVjdSAdhiVIULnFrM6DsYC_8K4sU3hfwcZdg5lkulcf6sXij3bBtDZpeT8dRX3D-RilXJh_A07XtnQ49HhiiNFU6PO4?key=zTg-KS7mIODLoGLSUCLhiQ" alt="Record inflows for Bitcoin ETFs as market sees renewed interest - 26">
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 Spot Bitcoin ETF flows as of July 12 | Source: SoSoValue
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The <a href="https://crypto.news/tag/vaneck/" target="_blank" rel="noreferrer noopener">VanEck</a> Bitcoin Trust ETF (HODL) and Invesco Galaxy Bitcoin ETF (BTCO) recorded additional inflows, $6.56 million and $4.03 million, respectively. However, ETFs from Hashdex, Franklin Templeton, Valkyrie, and WisdomTree did not register any inflows on the same day. 
The July 12 results mark the largest inflow since June 5, when spot <a href="https://crypto.news/tag/etf/" target="_blank" rel="noreferrer noopener">Bitcoin ETFs</a> amassed just north of $488 million. Notably, there was no day with an outflow at that time.&nbsp; 
Additionally, according to ETF market watcher HODL15Capital, U.S.-based spot Bitcoin ETFs now hold an all-time high amount of BTC at 888,607 coins. 
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 🧮 Updated USA Bitcoin ETF holdings (including today's inflows). New all-time high of 888,607 BTC held by the U.S. ETFs 👇 <a href="https://t.co/WsdwjZnaN2" target="_blank" rel="">https://t.co/WsdwjZnaN2</a> <a href="https://t.co/HUrEBSNzvi" target="_blank" rel="">pic.twitter.com/HUrEBSNzvi</a>— HODL15Capital 🇺🇸 (@HODL15Capital) <a href="https://twitter.com/HODL15Capital/status/1811937918543368399?ref_src=twsrc%5Etfw" target="_blank" rel="">July 13, 2024</a>
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Per <a href="https://farside.co.uk/?p=997" target="_blank" rel="">data</a> from Farside Investors, the recent activity brings the total inflows since the start of the week to $1.04 billion. Since their launch at the beginning of the year, spot Bitcoin ETFs have accumulated nearly $16 billion in net inflows.&nbsp; 
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Notably, this tally includes more than $18.6 billion that has flowed out of GBTC since it transitioned into a spot ETF 6 months ago. Interestingly, despite the outflows, the <a href="https://crypto.news/tag/grayscale/" target="_blank" rel="noreferrer noopener">Grayscale</a> Bitcoin product is still the second-largest ETF by net assets, boasting about $15.73 billion worth of Bitcoins.&nbsp; 
News of the record spot Bitcoin ETF inflows seem to have nudged the price of the cryptocurrency, which at the time of writing was trading at $58,543, 2.4% higher than its level from 24 hours ago. 
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 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXf9tqi0FRx5qhj-KvVBORaPNeXkq64RtHJWqwtbzRU0XDL0Av0EaOuM2E_Euf4iV0iqHwEe6tOsYahqoFbohapM9a0K5VCkDh3V20SAhVyA27-0hWpPzZEfDDrPCoTHnqQ2RMCFWdYJtoJxDsDPjk_KKJxb?key=zTg-KS7mIODLoGLSUCLhiQ" alt="Record inflows for Bitcoin ETFs as market sees renewed interest - 27">
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 Bitcoin 24 hour price chart | Source: CoinGecko
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However, the price uptick came against a backdrop of reduced trading volumes, with about $21.76 billion worth of Bitcoin traded in the last 24 hours, a 23.29% dip from the previous day.&nbsp; 
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Record inflows for Bitcoin ETFs as market sees renewed interest

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