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.
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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.
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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.
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