Bitcoin ETFs in the US see significant inflows, reaching $129.45 million, as BTC hovers near $63K. Fidelity leads the surge with 1030 BTC worth $65 million. July is historically bullish for Bitcoin.
BlackRock’s IBIT and Grayscale’s GBTC, the two largest spot Bitcoin ETFs by net asset value, saw zero flows on Monday.
The spot Bitcoin exchange-traded fund market in the United States recorded a significant daily inflow of $129.45 million, marking the fifth consecutive day of inflows.by the Securities and Exchange Commission on Jan. 10 and started trading on Jan. 11. In the first couple of months, major ETF issuers saw some of the biggest inflows and trading volume, barring Grayscale’s GBTC, which has either seen zero flows or significant outflows since day 1.The $129.
ARK Invest saw inflows of 205 BTC worth $13 million. BlackRock’s IBIT and Grayscale’s GBTC, the two largest spot Bitcoin ETFs by net asset value, saw zero flows on Monday.The July 1 inflows marked the fifth consecutive day of inflows for spot BTC ETFs after nearly seven days of outflows in the last week of June.June turned out to be a bearish month for Bitcoin ETFs and the BTC price. In June, BTC ETFs recorded nine days of outflows compared to 10 days of inflows.
The spot BTC ETF bullish rally coincided with Monday’s BTC price surge, which saw the BTC price hit a new weekly high of $63,778. However, the BTC price dipped below $63,000 again earlier today and is currently trading at $62,558. Although BTC’s price has recovered from its weekly low below $60,000, it is still down by over 15% from its all-time high of $73,750.) ETF approval just around the corner, the crypto market could see another bullish rally in the coming weeks, just like when spot BTC ETFs were approved.
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