Bitcoin ETF Inflows Surge on July 12
Bitcoin exchange-traded funds (ETFs) saw a significant increase in inflows on July 12, totaling over $310 million, marking the highest since June 5. Leading the inflows were BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC), bringing in $120.03 million and $115.14 million respectively. The Bitwise Bitcoin ETF (BITB) and Grayscale Bitcoin Trust (GBTC) also experienced notable inflows on that day.
Largest Inflow Since June 5
The results on July 12 mark the largest inflow since June 5, when Bitcoin ETFs garnered over $488 million. Notably, there were no outflows on that day. Additionally, U.S.-based spot Bitcoin ETFs now hold a record amount of BTC at 888,607 coins, according to ETF market watcher HODL15Capital.
Total Inflows and Market Impact
Recent data from Farside Investors shows that total inflows for spot Bitcoin ETFs since the start of the week have surpassed $1.04 billion. Since their launch earlier in the year, Bitcoin ETFs have accumulated close to $16 billion in net inflows. Despite outflows, the Grayscale Bitcoin product remains the second-largest ETF by net assets, holding around $15.73 billion worth of Bitcoins. The record inflows have influenced the price of Bitcoin, which was trading 2.4% higher than 24 hours prior.
