Bitcoin (BTC) ETF Traders Bought the Dip and Now Are Buying the Rebound as Inflows Topped $300M Monday
- 王林Original
- 2024-07-18 22:10:21551browse
It was the seventh consecutive day of net inflows for the U.S.-based spot funds.
U.S. spot bitcoin exchange-traded fund (ETF) investors showed themselves to be buyers at any price as lifetime net inflows into the funds now stand at over $16 billion.
On Monday, the funds added another $300 million, marking the seventh consecutive day of overall net inflows, data from Farside Investors showed.
Most of the money was poured into BlackRock’s iShares Bitcoin Trust (IBIT) which took in $117.2 million. Currently with $18.4 billion in assets under management, IBIT appears poised to soon cross the $20 billion mark, while Fidelity’s Wise Origin Bitcoin Frund (FBTC) is nearing the $10 billion AUM threshold.
This long streak of ETF inflows is particularly notable as it began alongside bitcoin's early July plunge, with net additions ranging from $140 million to $300 million per day. The action stands in contrast with ideas from a few bears in the space who have contended that much of the ETF interest was hot money that would dump the funds at the first sign of price trouble.
Bitcoin (BTC) at press time was trading at $64,600, up about 13% from levels seen late Friday afternoon.
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