On July 1, 2024, Bitcoin ETFs witnessed significant net inflows totalling $129 million, marking a bullish sentiment across the sector. Notably, no U.S. Bitcoin ETFs reported outflows, indicating robust investor confidence.
đ¨ $BTC #ETF Net Inflow July 1, 2024: +$129M!⢠No US Bitcoin ETF saw an outflow yesterday đ.⢠#Fidelity (FBTC) saw the largest single-day inflow at $65M.⢠Both #BlackRock (IBIT) and #Grayscale (GBTC) experienced net flows of $0 yesterday.⢠Overall, the net inflow⌠pic.twitter.com/rM9socAJ5t
â Spot On Chain (@spotonchain) July 2, 2024
Fidelityâs Bitcoin ETF (FBTC) led the day with the highest single-day inflow of $65 million. In contrast, BlackRock (IBIT) and Grayscale (GBTC) reported net flows of $0, maintaining stable positions without gains or losses for the day. The trend of positive net inflows continued for five consecutive trading days, underscoring a strong market appetite for Bitcoin investments. This period of growth reflects increasing trust and interest in cryptocurrency as a viable asset class among institutional and retail investors.
Spotlight on Monochrome Bitcoin ETF
Australiaâs Monochrome Bitcoin ETF (Ticker: IBTC) showcased a steady acquisition strategy, buying more bitcoins daily. From June 14 to June 27, the ETF increased its holdings from 48 to 65 bitcoins, aligning with the marketâs dips and peaks.
While you are scared, the Australian #Bitcoin ETF keeps on buying the dip every day.Slowly and steadily. pic.twitter.com/GwnymWdFnT
â Lark Davis (@TheCryptoLark) June 29, 2024
The ETFâs assets under management (AUM) grew alongside its bitcoin holdings, starting at AUD $4,724,449.32 on June 14 and reaching AUD $5,981,088.75 by June 27. This growth trajectory indicates not only an increase in the number of bitcoins held but also a substantial appreciation in value, reflecting the ETFâs strategic investment approach during market fluctuations. The Australian Bitcoin ETFâs âbuy the dipâ strategy continuously reflects a methodical and long-term approach to cryptocurrency investment.Â
