The 11 U.S. spot Bitcoin exchange-traded funds reported positive inflows for the fifth straight day on Monday, with a total daily net inflow of $129.45 million. Monday’s net inflows also marked the largest fund acquisition the ETF has seen since June 7.
Fidelity’s FBTC led the way yesterday with $65 million inflows, while Bitwise’s BITB recorded $41 million. data At SosoValue, Ark Invest and 21Shares’ ARKB reported net inflows of $13 million. Funds from Invesco, Galaxy Digital, VanEck and Franklin Templeton saw relatively small inflows of less than $5 million.
The two largest spot bitcoin ETFs by net asset value, BlackRock’s IBIT and Grayscale’s GBTC, had zero flows on Monday.
The 11 Bitcoin funds recorded a combined volume of about $1.36 billion on Monday. The ETFs have amassed a total of $14.65 billion in net inflows since their inception in January.
Meanwhile, the Bitcoin price has fallen 0.3% over the past 24 hours, reaching $63,094 at the time of publication. Bitcoin price page on the blockBitcoin has recovered from brief lows below $60,000 last week, but is still significantly below levels seen above $71,000 in early June.
QCP Capital analysts said in a report Monday that both Bitcoin and Ether are trending in the following direction: It’ll get better in July This is due to historically observed positive seasonality. Coinbase analysts also pointed out the positive seasonal trend in July.
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About the Author
Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He was previously a reporter at Forkast.News, where he actively covered the downfalls of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong, and China. He holds a Bachelor of Arts in Journalism and Business Marketing from the University of Hong Kong.