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Sujit Kumar
Jul 13, 2024
by Sujit Kumar

Bitcoin ETFs See Record Inflows of $310 Million in a Single Day

Bitcoin ETFs See Record Inflows

Table of contents

  1. Top Performers
  2. Weekly and Monthly Performance
  3. Bitcoin Price Trends
  4. Future Prospects
On July 12, U.S.-based spot Bitcoin exchange-traded funds (ETFs) recorded over $310 million in inflows, making it the best-performing day since June 5. This surge highlights the growing investor interest and confidence in Bitcoin ETFs.

Top Performers

Leading the pack were BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC), which saw inflows of $120 million and $115.1 million, respectively, according to Farside Investors data. Bitwise Bitcoin ETF followed with $28.4 million, while Grayscale Bitcoin Trust (GBTC) noted a rare inflow day of $23 million. Other ETFs, such as the VanEck Bitcoin Trust ETF and Invesco Galaxy Bitcoin ETF, recorded $6 million and $4 million in inflows, respectively.

Weekly and Monthly Performance

This significant inflow contributed to a combined $1.04 billion intake for Bitcoin ETFs over the week. Since their inception over six months ago, these ETFs have accumulated $15.8 billion in net inflows. This includes over $18.6 billion in outflows from Grayscale’s flagship Bitcoin product, which was converted into spot form following the U.S. securities regulator’s approval in January. Notably, the Hashdex Bitcoin ETF (DEFI) experienced a net outflow of $2 million, the only other spot Bitcoin ETF to do so.

Bitcoin Price Trends

Despite these inflows, Bitcoin's price has seen a modest 1.1% increase over the last 24 hours, currently trading at $57,858, according to CoinGecko. However, it remains down nearly 15% over the past month and is over 21% below its all-time high.

Future Prospects

Looking ahead, several Bitcoin ETF issuers are preparing to launch spot Ether (ETH) ETFs, which could debut as early as next week. These issuers await approval from the U.S. securities regulator for their amended S-1 registration statements, following initial feedback received last month.

With the strong performance of Bitcoin ETFs and the potential launch of spot Ether ETFs, the cryptocurrency market continues to evolve, offering new opportunities for investors.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Bitcoin ETFs See Record Inflows
Bitcoin ETFs See Record Inflows of $310 Million in a Single Day
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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