BTC Spot ETF Sees Inflow for Ninth Straight Trading Day

IconCryptoNewsTerminal Staff17 Jul, 2024

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BTC Spot ETF Sees Inflow for Ninth Straight Trading Day

BTC spot ETF saw a net inflow of $53 million on July 17, 2023, marking the ninth consecutive trading day of inflows into the fund. According to crypto analyst HODL15Capital, the total net inflow during this period stands at $201 million. The largest inflow was recorded by BlackRock's iShares Bitcoin Trust (IBIT), which saw $110 million flow in. Fidelity's FBTC ETF also experienced a net inflow of $3 million. However, Grayscale's GBTC and Bitwise's BITB ETFs experienced net outflows of $54 million and $6 million, respectively. This sustained inflow into BTC spot ETFs suggests that investors are increasingly seeking exposure to Bitcoin through regulated and transparent investment vehicles. The positive sentiment towards Bitcoin and the broader crypto market has likely contributed to these inflows. As the crypto market continues to mature, we can expect to see more institutional investors allocating funds to Bitcoin and other digital assets through ETFs and other investment products.

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