The cryptocurrency market is experiencing a downtrend, and in the midst of this decline, US Bitcoin exchange-traded funds (ETFs) have seen a significant net inflow. While the German government is going through a strong sell-off throughout this week, US Bitcoin ETFs have seen a significant buildup.
According to SoSoValue data, Bitcoin ETFs recorded a net inflow of $310.21 million on July 12, the highest inflow since the first week of June. In the last 24 hours, the BlackRock IBIT fund had the most daily net inflow at $120 million. The total current net inflow of IBIT was $18.26 billion. However, the GBTC fund saw a daily net inflow of $23.01 million, while GBTC's historical net inflow totaled $18.64 billion.
Performance of Other ETFs Meanwhile, the Fidelity FBTC fund recorded a daily net flow of $115 million, and the current total net flow of FBTC is $9.72 billion. The Ark Invest and 21 Shares ARKB funds saw inflows of $13.02 million, with a current total net inflow of $2.5 billion. Bitwise Bitcoin ETF had inflows of $28.42 million, while VanEck Bitcoin Trust ETF and Invesco (NYSE:IVZ) Galaxy Bitcoin ETF followed with inflows of $6.$56 million and $4.03 million, respectively.
