Bitcoin ETF Inflows Continue to Surge
Bitcoin ETFs are on a roll, with a record $429 million flowing into spot Bitcoin ETFs on Tuesday, July 16. This marks the eighth consecutive day of positive inflows.
BlackRock’s IBIT Leads the Way
BlackRock’s IBIT, the leading Bitcoin ETF, saw a massive $260 million inflow, bringing its total assets under management to over $18.5 billion. IBIT has been the main driver of inflows into Bitcoin ETFs over the past week, contributing over $900 million to the total.
Overall ETF Market Growth
Overall, US Bitcoin ETFs recorded over $1 billion in inflows in the last three days. In addition to BlackRock’s IBIT, Fidelity’s FBTC saw $61.1 million in inflows and Ark Invest’s ARKB saw $29.8 million.
Strong Trading Volumes
Trading volumes for spot Bitcoin ETFs are also indicating strong confidence from both retail and institutional investors. BlackRock’s IBIT clocked over $1 billion in trading volume for the second consecutive day.
Global Demand
Beyond the US, demand for spot Bitcoin ETFs in Australia and Hong Kong remains high. The Monochrome BTC ETF IBTC has accumulated 85 BTC, valued at $7.99 million.
Impact on Bitcoin Price
The massive inflows have helped to boost the Bitcoin price, which reached $65,800 earlier today.
The information provided in this article is intended for general knowledge and informational purposes only, and does not constitute financial advice. It is essential to conduct thorough research and seek advice from a qualified financial professional before making any investment decisions.
