Inflows into Spot Bitcoin ETFs Reach Highest Level in a Month
The price of Bitcoin has recently dropped to as low as $54,000, a significant decrease of 25% from its peak above $73,000 in March. Despite this, the spot Bitcoin ETFs experienced their strongest inflow day in a month on July 5, with a total of $143 million.
Out of the top 11 spot Bitcoin ETFs, four of them saw inflows of over 3,000, equivalent to about $172 million at current prices, with Fidelity’s FBTC fund receiving 80% of the sum.
The remaining inflows went to Bitwise (BITB), Ark 21Shares (ARKB), and VanEck (HODL), while Grayscale’s GBTC recorded an outflow of 500 BTC, roughly $29 million.
The other ETFs did not see any significant change. This is the highest net inflow value in a single day since June 6, when there were significant inflows of $1.7 billion in just four days (June 4-7). However, this was followed by a record-breaking streak of 18 days of net inflows until June 10, when $65 million in outflows were recorded.
