This week, U.S. Bitcoin ETFs have been a bright spot with phased inflows, indicating growing institutional demand.
This week, the German government has been selling Bitcoin aggressively, while the US spot Bitcoin ETF has seen a large increase in holdings, with net inflows exceeding $1.1 billion this week. As a result, the Bitcoin price has managed to avoid any major volatility and is currently trading up 1.21% at $57,924 with a market capitalization of $1.142 trillion.
Bitcoin ETF Holdings Hits All-Time High
US-based spot Bitcoin ETFs have seen inflows for the past six consecutive trading days. Interestingly, this is the best weekly inflow recorded by BTC ETFs since May. According to data from HODL15Capital, Bitcoin holdings in US ETFs have reached an all-time high of 888,607 BTC.
As of Friday, July 12, total inflows into U.S. Bitcoin ETFs reached $311 million, with BlackRock’s IBIT leading with $121 million in inflows. Fidelity’s FBTC came in second with $115 million in inflows on Friday. All spot Bitcoin ETFs, including Grayscale’s GBTC, did not see any outflows.
BlackRock BTC ETF led the gains this week, with a net inflow of $523 million this week, while Fidelity FBTC saw a net inflow of $356 million this week. With this, BlackRock IBIT's total AUM now exceeds $18.2 billion, while Fidelity FBTC's AUM is just under $10 billion since its inception.
Global BTC ETF total holdings hit a record high
Not only the US BTC ETF, but also the global ETF holdings of Bitcoin have soared to an all-time high of 1,051,569 BTC.
The Hong Kong Bitcoin ETF also continued to quietly increase its holdings, with its total BTC holdings hitting a new high of 4,941 BTC.
Interestingly, this development comes at the same time that the German government liquidated all of its Bitcoin holdings over the past month. It seems that the inflows into ETFs have successfully absorbed the selling pressure on Bitcoin. This also shows that despite the current price volatility, institutional demand for regulated Bitcoin products remains intact.
