The Bitcoin ETF sector has recently seen a substantial funds inflow. As per SpotOnChain (a popular on-chain analytics provider), the BTC exchange-traded funds experienced a net inflow of up to $216M on the 9th of July. This denotes the 3rd successive trading day witnessing positive net inflows. During all these three days, substantial amounts have been swarming the BTC ETFs. This shows a robust investor interest and confidence in the BTC ETFs.
đš $BTC #ETF Net Inflow July 9, 2024: +$216M!âą The net inflow has been positive for 3 consecutive trading days (all with high inflows). đâą #BlackRock (IBIT) continued leading the leaderboard with another large inflow of $121M.âą #Grayscale (GBTC), however, saw an outflow⊠pic.twitter.com/nxCeYGacJt
â Spot On Chain (@spotonchain) July 10, 2024
Bitcoin ETFs See Net Inflows of Over $216 Million on July 9
On its official social media account on X, SpotOnChain provided the details of these inflows. According to the analytics provider, the consistency of the inflows during the past 3 days is remarkable. This reportedly plays an important role in the further progress of the BTC ETFs. This positive trend expresses resilient demand for these ETFs among market-wide investors. This additionally contributes to the wider bullish sentiment across the industry.
BlackRock Maintains Dominance Over the ETF Sector with a Large $121M in Net Inflows
IBIT, the Bitcoin ETF of BlackRock, is reportedly maintaining its dominance in the ETF market. It has received a huge single-day inflow of nearly $121M. In this respect, the exchange-traded fund is attracting more and more capital for the provision of liquidity in the market. On the other hand, Grayscale Bitcoin Trust went through a further outflow of up to $37.5M on the same day.
This comes after an inflow for just one day. This outflow indicates a shift in investor behavior as well as preferences between diverse BTC ETF products. Overall, the consistent inflows of Bitcoin ETFs suggest an increasing institutional interest in Bitcoin exposure.