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Bitcoin ETFs Extend Positive Streak with $300 Million Inflows

Bitcoin ETFs Extend Positive Streak with $300 Million Inflows

DailyCoin2024/07/16 12:10
By: DailyCoin
BTC+0.58%ARK-0.88%GBTC0.00%
  • Bitcoin ETFs have extended their positive streak to a seventh day.
  • The development followed Bitcoin’s biggest jump in almost two months.
  • None of the 11 Bitcoin ETFs bled on Monday.

U.S-listed spot Bitcoin exchange-traded funds (ETFs) logged their seventh consecutive day of inflows on Monday, pulling hundreds of millions from investors.

The extended positive streak came as Bitcoin prices shot up nearly 10% to a two-week high of $63,000 on July 15 after Donald Trump’s defiant response to an assassination attempt spurred massive crypto gains.

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The crypto asset continued its rally to reclaim $65,000 early Tuesday before paring some of the gains to trade at $62,746 as of press time, CoinMarketCap data shows.  

Bitcoin ETF Flows on July 15

According to SoSoValue data , the 11 U.S.-based spot Bitcoin ETF products recorded a daily total net inflow of $301.04 million on July 15, about $10 million shy of the $310.21 million they pulled Friday last week.

BlackRock’s IBIT, the largest spot Bitcoin ETF by net asset value, led the day’s inflows with $117.25 million. IBIT was the most traded, accounting for over half the $2.26 billion trading volume logged by all 11 funds.

Ark Invest’s ARK followed closely with $117.19 million inflows as Fidelity’s FBTC, Bitwise’s BITB, Invesco’s BTCO, and Franklin Templeton’s EZBC attracted $36.15 million, $15.24 million, $7.93 million, and $3.69 million, respectively.

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VanEck’s HODL added $3.6 million while the remaining funds posted zero flows on Monday, including Grayscale’s GBTC, Valkyrie’s BRRR, Wisdom Tree’s BTCW, and Hashdex’s DEFI.

The cumulative net inflow of the 11 spot Bitcoin ETF products since they started trading in January reached $16.11 billion as of July 15, underscoring growing investor interest in the underlying crypto asset.  

Read about BlackRock CEO’s reversed stance on Bitcoin:
BlackRock CEO Reverses on Bitcoin: ‘I Look at It as Digital Gold’

Stay updated on Trump’s planned fundraiser at Bitcoin Conference:
Trump Backers Seek to Raise $15M at Bitcoin Conference in Nashville

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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