Data from SoSoValues shows that all 11 US spot Bitcoin ETFs had a combined net inflow of $301 million on Monday, July 15th, 2024. This extends their streak to seven days, showing renewed confidence in Bitcoin as a digital asset.

BlackRock’s iShares Bitcoin Trust (IBIT) led with a net inflow of $117.25 million. IBIT also had $1.24 billion in trading volume, making it the most-traded Bitcoin ETF that day.

Ark Invest and 21Shares’ ARKB followed with net inflows of $117.19 million, showing strong demand from institutional investors. Fidelity’s FBTC saw $36.15 million and Bitwise’s BITB had $15.24 million in inflows. Other funds from VanEck, Invesco, Galaxy Digital, and Franklin Templeton also saw positive net inflows.

Grayscale’s Bitcoin Investment Trust (GBTC), the largest Bitcoin fund, had no net inflows on Monday. ETFs from Valkyrie, WisdomTree, and Hashdex also saw zero net flows.

While positive sentiment is clear, trading volumes were lower compared to March 2024 when they often exceeded $8 billion daily. However, since January, total net inflows have reached $16.11 billion.

Along with ETF inflows, Bitcoin’s price has recovered, surpassing $63,000. This trend reinforces Bitcoin’s value as an investment. BlackRock CEO Larry Fink, once skeptical of cryptocurrency, now acknowledges Bitcoin’s growing legitimacy as a “financial instrument,” a significant shift for the crypto space.

The positive market sentiment is further boosted by the expected launch of spot Ether ETFs on July 23rd, 2024. This development is likely to attract more investors to invest in digital assets.

The continuous inflows into spot Bitcoin ETFs signal a renewed trust in Bitcoin. With leading financial institutions showing strong performance and endorsements from industry leaders, the cryptocurrency market seems ready for more growth.