The 11 spot Bitcoin exchange-traded funds (ETFs) in the United States continued their seven-day winning streak, recording a daily net inflow of $301 million.
According to SoSoValue, BlackRock’s IBIT, the largest spot Bitcoin ETF by net asset value, saw its largest net inflows on the day, at $117.25 million. data. The fund was the most traded Bitcoin ETF on Monday, with $1.24 billion in volume. Ark Invest and 21Shares’ ARKB followed closely behind with $117.19 million in net inflows.
Fidelity’s FBTC saw net inflows of $36.15 million, while Bitwise’s BITB saw inflows of $15.24 million on Monday. Funds from VanEck, Invesco, Galaxy Digital and Franklin Templeton also saw net inflows yesterday.
Grayscale’s GBTC recorded zero flows on Monday, along with ETFs Valkyrie, WisdomTree and Hashdex.
A total of $2.26 billion worth of U.S. spot Bitcoin funds traded on Monday. The volume of spot Bitcoin ETFs was lower than in March, when multiple days of volume exceeded $8 billion. The ETFs have accumulated a total of $16.11 billion in net inflows since their launch in January.
The Bitcoin price has recovered and has surpassed $64,000 at the time of publication. The world’s largest cryptocurrency is currently trading at $64,770. Bitcoin price page on the block. BlackRock co-founder and CEO Larry Fink said in a CNBC interview Monday that bitcoin has become a “legitimate financial instrument” and that his skepticism about the cryptocurrency was misguided.
Meanwhile, sources at two U.S. issuers say a spot ether ETF is likely to launch on July 23. Confirmed With The Block.
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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.