Spot Bitcoin ETFs see highest flow day in over 5 weeks
United States-based spot Bitcoin exchange-traded funds (ETFs) recorded over $310 million in inflows on July 12, marking their best-performing day since June 5.
BlackRock’s iShares Bitcoin Trust and the Fidelity Wise Origin Bitcoin Fund accounted for most of the flows at $120 million and $115.1 million, respectively, according to Farside Investors data.
The Bitwise Bitcoin ETF came in third at $28.4 million, while the Grayscale Bitcoin Trust recorded another rare inflow day at $23 million.
The VanEck Bitcoin Trust ETF and Invesco Galaxy Bitcoin ETF also received $6 million and $4 million in inflows, respectively.
Meanwhile, the Hashdex, Franklin Templeton, Valkyrie and WisdomTree-issued spot Bitcoin ( BTC ) ETFs failed to register inflows on the day.
Daily flows into the spot Bitcoin ETFs between July 8–12. Source: Farside InvestorsIt was the largest flow day since June 5, when the spot Bitcoin ETF issuers tallied $488.1 million of inflows.
Friday’s tally means the spot Bitcoin ETF issuers took in a combined $1.04 billion since Monday, July 8.
Source: Josh OlszewiczThe spot Bitcoin ETFs have now mustered $15.8 billion in net inflows since the products launched a little over six months ago.
Related: High-conviction Bitcoin traders targeted in new long BTC ETFs
That tally includes over $18.6 billion in outflows from Grayscale’s flagship Bitcoin product, which was converted into spot form following approval from the US Securities and Exchange Commission (SEC) in January.
The Hashdex Bitcoin ETF is the only other spot Bitcoin ETF with a net outflow, though it is relatively small at $2 million.
Bitcoin has increased 1.1% over the last 24 hours and is currently trading at $57,858, CoinGecko data shows.
However, the cryptocurrency is down nearly 15% in the last month and 21% down from its all-time high.
Some spot Bitcoin ETF issuers are now preparing to issue spot Ether ( ETH ) ETFs, which could launch as early as July 15, according to Nate Geraci, president of The ETF Store.
These issuers are now waiting for the SEC to sign off on their amended S-1 registration statements after receiving a first round of feedback in late June.
Magazine: Wolf Of All Streets worries about a world where Bitcoin hits $1M: Hall of Flame
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Elon Musk 'shot down' OpenAI's ICO plan in 2018 over credibility concerns
Trump policies could take DeFi, BTC staking mainstream — RedStone co-founder
'There is a global race underway for Bitcoin' — Anthony Pompliano
Tether mints $1 billion USDt on Tron, pays zero fees — Arkham