⭐⭐Are Bitcoin ETF Inflows Increasing? ⭐⭐

Bitcoin price fluctuations continue to have a significant impact on spot Bitcoin ETFs. While investors invest large amounts in ETFs when the BTC price rises, outflows from these ETFs may occur during periods of decline. There was a slight decline in the Bitcoin price yesterday, but investor inflows still continued.

$53.35 Million Inflow into Spot Bitcoin ETFs

While the Bitcoin price was trading at $64,695, there was significant inflow into spot Bitcoin ETFs. The largest inflow was into BlackRock's spot Bitcoin ETF, IBIT, with inflows of $110.37 million. The total asset value of this ETF reached $20.93 billion. Fidelity's spot Bitcoin ETF received an inflow of $2.83 million, causing its total assets to drop to $11.54 billion.

Other spot Bitcoin ETFs did not receive inflows; Ark Invest, VanEck and Invesco recorded zero inflows. While there was an outflow of $53.86 million from Grayscale, there was an outflow of $5.99 million from Bitwise. There were also no inflows into the spot Bitcoin ETFs of Franklin, Valkyrie, WisdomTree and Hashdex.

The cryptocurrency market will focus on spot Ethereum ETFs next week. These ETFs, which are planned to be launched on July 23, 2024, are expected to create significant activity in the market. Following the success of Bitcoin ETFs, it is anticipated that there will be similar interest in Ethereum.

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