🔥🔥Bitcoin ETFs Revitalized with $143 Million Inflows 🔥🔥

Bitcoin has lost almost 25% of its value, falling from a peak of over $73,000 in March to a low of $54,000 in recent days. However, spot bitcoin ETFs had their best inflow day of the month on July 5, gaining a total of $143 million.

Almost 80% of the inflows into four of the eleven major bitcoin ETFs came from Fidelity's FBTC fund, bringing their total value to about $172 million at current prices.

According to Coinglass statistics, Grayscale's GBTC experienced an outflow of 500 BTC worth approximately $29 million, while Bitwise (BITB), Ark 21Shares (ARKB), and VanEck (HODL) ETF offerings attracted other inflows. There was no major change in other ETFs.

There were large inflows into ETFs in early June; There was an inflow of $1.7 billion between June 4 and June 7. June 7 represented a record 18-day streak of net inflows, while the next trading day, June 10, saw an outflow of $65 million from the funds.

BlackRock's fund saw no significant inflows or outflows on July 5. However, BlackRock's iShares Bitcoin Trust (IBIT) still ranks highest among ETFs with over $17 billion in assets under management, according to The Block's Data Dashboard. Mt. Despite Gox's selloff, ETF inflows may indicate consumer optimism about the price of bitcoin.

"The future of Bitcoin looks really bright. This week is a chance for those with no exposure to benefit from the decline," Bitwise CEO Hunter Horsley said in a statement on X.

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