Bitcoin (BTC) Spot ETFs Log $301M in Net Inflows as BlackRock\'s IBIT Leads the Charge

Spot Bitcoin ETFs in the U.S. logged $301 million in net investments on Monday, marking the seventh consecutive day of positive growth driven by increasing investor interest in Bitcoin as a legitimate financial instrument.

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U.S. spot Bitcoin ETFs saw $301 million in net inflows on Monday, continuing a seven-day streak driven by increasing investor interest in the apex crypto as a legitimate financial instrument.

BlackRock’s IBIT, the largest spot Bitcoin ETF by net asset value, led the day’s inflows with $117.25 million. Ark Invest and 21Shares’ ARKB followed closely with $117.19 million in net inflows. The surge is part of a broader trend, with the ETFs collectively amassing $16.11 billion in net investments since their launch in January.

Monday’s inflows were accompanied by a trading volume of $2.26 billion across the 11 U.S.-based spot bitcoin ETFs, a significant figure that is, however, lower than the peak volumes in March, which saw several trading days with over $8 billion. Nonetheless, the sustained investments indicate growing investor confidence and interest in Bitcoin ETFs.

BlackRock lends Bitcoin some legitimacy

In a recent CNBC interview, BlackRock CEO Larry Fink described Bitcoin as a “legitimate financial instrument,” acknowledging a shift from his previous skepticism towards the cryptocurrency. This endorsement, coming from the head of the world’s largest asset manager, likely contributed to the strong inflows into BlackRock’s IBIT.

Other ETFs, besides BlackRock’s IBIT and Ark Invest’s ARKB, also saw substantial inflows. Fidelity’s FBTC recorded $36.15 million, Bitwise’s BITB saw $15.24 million, and VanEck, Invesco, and Galaxy Digital also reported positive net inflows.

On the other hand, Grayscale’s GBTC, along with ETFs from Valkyrie, WisdomTree, and Hashdex, recorded zero net flows on Monday.

Bitcoin’s price surged above the $64,000 level on Monday, reaching $64,770 at the time of writing. This price rally follows a significant jump to nearly $63,000 on July 15, sparked by market reactions to Donald Trump’s defiant response to an assassination attempt. The cryptocurrency’s value continued to climb, driven by robust inflows into spot Bitcoin ETFs.

Growing investor confidence in ETFs

According to Matteo Greco, a research analyst at Fineqia International, Bitcoin’s price increase and the sustained capital flows into ETFs reflect growing investor confidence. This trend has led to BTC spot ETFs managing over $51.3 billion in assets, which is more than 4.5% of the total Bitcoin supply.

In addition to the positive developments for Bitcoin ETFs, the market is also anticipating the launch of spot Ether ETFs on July 23, as confirmed by sources from two U.S. issuers. Analysts expect these ETFs to attract substantial investments, similar to the success of Bitcoin ETFs, although adjusted for the different market dynamics between Bitcoin and Ethereum.

The recent influx into digital asset investment products, totaling $1.44 billion last week, highlights the increasing mainstream acceptance and integration of cryptocurrencies into traditional financial markets. As Bitcoin recovers above $62,000 and maintains its momentum, the continued interest in Bitcoin ETFs bodes well for the future of cryptocurrency investment vehicles.

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