United

Bitcoin

Strong

Million

Beginning July 5, Bitcoin investors have poured over $650 million into United States-listed spot BTC exchange-traded funds (ETFs), in an amazing show of investor confidence over the past three trading days. This increase occurs in spite of Bitcoin’s difficulty recovering its ground of over $60,000 since July 4.
<h2 id="span-style-font-weight-400-total-net-inflows-in-bitcoin-etfs-span">Total Net Inflows in Bitcoin ETFs</h2>
According to the most recent figures from <a href="https://farside.co.uk/?p=997" rel="noopener noreferrer nofollow">Farside Investors</a>, total net inflows across all U.S.-based spot BTC ETFs on July 9 alone came out to be $216.4 million, or 3,760 BTC. Leading the group was BlackRock’s Bitcoin ETF, the iShares Bitcoin Trust drawing $121 million in inflows. Closely trailing Fidelity’s Wise Origin Bitcoin Fund, garnering $91 million.
Over the three days, these strong inflows—also seen $294.8 million on July 8 and $143.1 million on July 5—equal a total of $654 million. Bitcoin has not, however, exceeded the $60,000 threshold despite these large outlays; trading at $59,165 as of the most recent TradingView report shows an almost 15% drop over the previous month.
<h3 id="span-style-font-weight-400-interesting-year-for-bitcoin-span">Interesting Year for Bitcoin</h3>
Like the optimistic trend seen before March, when <a href="https://thecoinrise.com/peter-schiff-issues-crucial-bitcoin-warning-amid-q2-plunge/" rel="noopener noreferrer nofollow">Bitcoin surged to new all-time highs</a>, analysts anticipate these ETFs could propel BTC prices higher. Co-founder and COO of 21st Capital, a BTC custody consulting company, Sina G underlined the crucial part ETFs played in the last price surge.&nbsp;
Following a buy-the-rumor buy-the-news phenomena, the ETFs were mostly responsible for the run-up from $16K to $73K he saw. Strong ETF inflows up to mid-March helped the market, he also noted, but a slowing down combined with bankruptcy outflows caused a price decline to $56K.
<h2 id="span-style-font-weight-400-german-government-s-btc-sell-off-span">German Government’s BTC Sell-Off</h2>
Though the good ETF inflows have not offset Germany’s Bundeskriminalamt (BKA), the federal criminal police, the significant Bitcoin <a href="https://x.com/r0ckstardev/status/1810619879944245677" rel="noopener noreferrer nofollow">sell-off</a> by this country. Mid-January, the BKA seized around 50,000 BTC under investigation into a movie pirating website.&nbsp;
As tracked by Arkham Intelligence, the BKA has offloaded more than $850 million worth of Bitcoin since July 5, moving significant amounts to wallets controlled by centralized exchanges and market makers. From the first haul, the BKA’s wallet presently has 23,960 BTC, <a href="https://thecoinrise.com/bitcoin-dips-below-58000-amid-market-volatility/" rel="noopener noreferrer nofollow">worth about $1.4 billion</a>, a marked drop.
<h3 id="span-style-font-weight-400-spot-btc-etf-in-australia-span">Spot BTC ETF in Australia</h3>
Globally, Australia’s bitcoin market is seeing noteworthy changes. <a href="https://x.com/DigitalXLtd/status/1810461336612344144" rel="noopener noreferrer nofollow">DigitalX</a>, a blockchain-oriented asset management company, has obtained <a href="https://thecoinrise.com/digitalx-secures-regulatory-nod-for-spot-bitcoin-etf-on-asx/" rel="noopener noreferrer nofollow">regulatory permission to debut its spot Bitcoin ETF</a>, thereby joining the second BTC ETF traded on the Australian Securities Exchange (ASX.). Debut on July 12 at 10 am local time, the DigitalX Bitcoin ETF, trading under the ticker BTXX,
DigitalX CEO Lisa Wade hailed this clearance as a “watershed moment” for the sector. “The DigitalX Bitcoin ETF is a spot ETF product that provides ASX consumers direct access to BTC via a regulated and liquid fund structure,” she said. Chair of DigitalX Toby Hicks mirrored her observations on the expansion and development of Australian digital asset markets.
The post <a href="https://thecoinrise.com/bitcoin-etfs-see-650-million-inflows-amidst-market-volatility/" rel="noopener noreferrer nofollow">Bitcoin ETFs See $650 Million Inflows Amidst Market Volatility</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Bitcoin ETFs See $650 Million Inflows Amidst Market Volatility

目录

TheCoinrise Media

发布于 2024年7月10日的其他文章

Struggling Portfolio? Add These 5 Altcoins for a Boost

Litecoin (LTC) Whales Push Exchange Inflows Amid Price Drop

CROSS THE AGES Unveils ReVerse, Integrating Real World Assets with Virtual Gaming

Web3 Enabler Brings XRP Payments to Salesforce Platform

Crypto Firm Hypersphere Announces $130 Million Fund, Seeks VC Expansion

LayerZero Holders Turn Bullish as ZRO Price Nears All-Time High

订阅我们免费的电子期刊，获取每日最新加密领域动态！