In a noteworthy development, July 8, 2024, witnessed a substantial net inflow of $295 million into Bitcoin ETFs, marking the highest net inflow observed over the past 21 trading days. This impressive influx comes in the wake of the German government's sale of $1 billion worth of Bitcoin, highlighting the resilience and strong investor interest in Bitcoin ETFs.
Key Highlights:
Record Inflow: The $295 million net inflow is the highest recorded among the 10 U.S. Bitcoin ETFs in the last 21 trading days.
German Government Outflow: Despite a significant $1 billion Bitcoin sale by the German government, Bitcoin ETFs saw robust inflows.
No Outflows: Interestingly, not a single U.S. Bitcoin ETF, including the notable Grayscale, experienced an outflow on this day.
BlackRock ETF Surge: The BlackRock Bitcoin ETF (IBIT) saw a remarkable rebound, with a single-day inflow of $187 million, the highest in the last 20 trading days.