The US spot bitcoin exchange-traded funds (ETFs) have experienced notable activity recently, marked by a consistent influx of investor funds. On July 11 alone, these ETFs saw a combined net inflow of $78.93 million, continuing a streak of positive flows over the past five days. This trend underscores strong investor interest and confidence in these financial instruments.
Leading the pack is BlackRock’s IBIT, now the largest spot BTC ETF by net asset value, which attracted an impressive $72.09 million in net inflows. The fund also boasted the highest trading volume among bitcoin ETFs, reaching $725.61 million on July 10. Fidelity’s FBTC also performed well with $32.69 million in net inflows, followed by Bitwise and Ark Invest/21Shares with $7.53 million and $4.31 million respectively.
However, not all ETFs saw positive flows. Grayscale’s GBTC reported net outflows of $37.69 million on July 11, highlighting a divergence in investor sentiment among different offerings. US spot bitcoin funds recorded a total trading volume of $1.31 billion on July 11, though this is lower than previous peaks observed earlier in the year.
US Spot Bitcoin ETFs See Strong Inflows; BlackRock’s IBIT Leads with $72.09 Million
Since their launch in January, these spot BTC ETFs have accumulated significant net inflows totaling $15.5 billion, reflecting their growing popularity and the expanding interest in cryptocurrency investments.
Looking ahead, attention is now turning to potential Ethereum ETF approvals in the US market. Issuers have updated their S-1 statements for spot Ethereum ETFs following SEC feedback, with expectations high for forthcoming decisions. Analysts anticipate a positive market reaction upon approval, potentially boosting Ethereum’s price trajectory in the coming years.
Despite recent price fluctuations, Ethereum currently trades around $3,134, showing a modest increase from recent lows. Market sentiment remains influenced by broader cryptocurrency trends, especially as Bitcoin struggles to surpass the $60,000 mark, a pivotal psychological threshold.
As developments unfold in both Bitcoin and Ethereum ETF markets, investors and analysts continue to monitor these sectors closely for future opportunities and risks.
