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Home»ADOPTION NEWS»US Spot Bitcoin ETF Reports Net Inflows of $130M, Largest in 3 Weeks
ADOPTION NEWS

US Spot Bitcoin ETF Reports Net Inflows of $130M, Largest in 3 Weeks

By Crypto FlexsJuly 2, 20243 Mins Read
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US Spot Bitcoin ETF Reports Net Inflows of 0M, Largest in 3 Weeks
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Funds • July 2, 2024 1:08 AM EDT

Posted 1 minute earlier In ~

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.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

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.

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