Bitcoin ETF inflows hit $301 million as BTC price surges past $64,000

Bitcoin's price surged past $64,000 on 15 July, following a substantial inflow of $301 million into the eleven spot Bitcoin exchange-traded

Bitcoin’s price soared past $64,000 on Monday as a substantial inflow of $301 million poured into the eleven spot Bitcoin exchange-traded funds (ETFs) in the U.S. This marked the seventh consecutive day of positive inflows for these funds.

BlackRock’s IBIT, Ark Invest, and 21Shares’ ARKB led the inflows with each recording $117.2 million. Among the eleven Bitcoin ETFs, BlackRock’s IBIT also emerged as the most traded on Monday, boasting a trading volume of $1.24 billion.

Bitcoin ETF Flow (US$ million) – 2024-07-15

TOTAL NET FLOW: 300.9

(Provisional data)

IBIT: 117.2

FBTC: 36.1

BITB: 15.2

ARKB: 117.2

BTCO: 7.9

EZBC: 3.7

BRRR: 0

HODL: 3.6

BTCW: 0

GBTC: 0

DEFI: 0

For all the data & disclaimers visit:

https://t.co/4ISlrCgZdk

Fidelity’s FBTC and Bitwise’s BITB saw net inflows of $36.15 million and $15.24 million, respectively, boosting their total inflows to $9.75 billion and $2.14 billion. Other Bitcoin ETFs, including those from VanEck, Invesco and Galaxy Digital, and Franklin Templeton, also reported net inflows on Monday.

In contrast, Grayscale’s GBTC, along with ETFs from Valkyrie, WisdomTree, and Hashdex, recorded no inflows on the same day. Since its inception, GBTC has experienced total outflows of $18.63 billion.

Overall, $2.26 billion worth of value was traded on U.S. spot Bitcoin funds on Monday. This trading volume is lower compared to March, when volumes crossed $8 billion on multiple days. Since their launch in January, the ETFs have accumulated a total net inflow of $16.11 billion.

The rise in Bitcoin’s price saw it trading at $64,874 at the time of publication. Notably, BlackRock co-founder and CEO Larry Fink, in a CNBC interview, stated that Bitcoin has become a “legitimate financial instrument,” adding that his earlier skepticism was misplaced.

The market now awaits the imminent approval of spot Ether ETFs by the SEC, with many expecting a decision before the end of July.

Analysts, including Fineqia’s Matteo Greco, anticipate strong inflows for ETH Spot ETFs, adjusted for the market cap difference between BTC and ETH. Greco highlighted that analyzing net inflows in proportion to BTC would be crucial to estimating investors’ appetite for digital assets beyond BTC.

“Despite differing market conditions, ETH Spot ETFs may also see outflows from Grayscale Ethereum Trust, similar to what happened with GBTC,” Greco said.

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