Despite Bitcoin’s price dropping to as low as $54,000 in recent days, down about 25% from its March high of over $73,000, spot Bitcoin ETFs saw their biggest inflows in a month on July 5, amassing a total of $143 million.
Four of the top 11 Bitcoin ETFs saw inflows, with total inflows exceeding $3,000. Bitcoin
+2.12%
That’s roughly $172 million at current prices, with around 80% of that amount going into Fidelity’s FBTC fund. ETF products from Bitwise (BITB), Ark 21Shares (ARKB), and VanEck (HODL) attracted the rest of the inflows, while Grayscale’s GBTC saw an outflow of 500 BTC, or roughly $29 million. Coinglass data. The remaining ETFs were largely unchanged.
The net inflow value is the highest single-day amount since June 6. However, significant inflows into the ETF occurred in early June, with $1.7 billion in just four days from June 4 to June 7. June 7 was the 18th consecutive day of record net inflows, but the following trading day, June 10, the fund saw $65 million in outflows.
According to The Block’s Data Dashboard, BlackRock’s iShares Bitcoin Trust (IBIT) remains the top ETF with over $17 billion in AUM despite no major inflows or outflows on July 5. As The Block previously reported, the ETF inflows may reflect consumers’ optimism about the Bitcoin price despite the Mt Gox selloff.
“The outlook for Bitcoin is more bullish than ever. For many who haven’t been exposed yet, this week is an opportunity to buy the dip,” Bitwise CEO Hunter Horsley wrote on X.
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