Bitcoin ETFs Break Records with $17 Billion in Inflows

US Bitcoin spot exchange-traded funds (ETFs) have hit a new high. They’ve pulled in over $17 billion, setting a record for net inflows.

According to data monitored by Farside Investors, BlackRock’s IBIT led the way, bringing in $18.968 billion. Fidelity’s FBTC also did well, adding $9.962 billion. But not all funds saw gains. Grayscale’s GBTC lost $18.694 billion as investors moved their money elsewhere.

On July 17, the 11 US spot Bitcoin ETFs had a good day. They brought in $53.35 million, marking nine days in a row of positive inflows. This was less than the $422 million from July 16, but still firm.

BlackRock’s IBIT came out on top again. It added $110.37 million and traded $1.21 billion worth of shares. Fidelity’s FBTC was the only other fund to gain money that day, bringing in $2.83 million.

Source: Farside Investors

Some funds could have done better. Grayscale’s GBTC lost $53.86 million, and Bitwise’s BITB lost $6 million. Seven other funds didn’t see any changes.

Overall, US spot Bitcoin funds traded $1.79 billion on July 17. This is down from March, when daily trading topped $8 billion. Since launching in January, these ETFs have brought in $16.59 billion.

BlackRock’s Bitcoin Holdings Surge Amid Investor Confidence

These significant inflows show that more investors are warming up to Bitcoin. BlackRock now holds over $20 billion worth of Bitcoin. They recently bought 4,004 more Bitcoin, and the price has increased by 3% since Monday.

BlackRock’s fund first hit $20 billion in assets in late May, as Bitcoin’s price shot up to nearly $70,000, making it the biggest Bitcoin ETF in the world.

Right now, Bitcoin costs $66,994. This is 2.33% less than its $65,470 price on July 17. It had dropped to $53,600 on July 5, its lowest point in almost five months.

The success of these ETFs marks a big step for Bitcoin. It shows that more people are seeing it as a serious investment. As BTC becomes more accessible to buy through these funds, we might see even more growth in the future.

Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.