Between July 15 and July 19, 2024, the total net inflow for spot Bitcoin ETFs reached $17.08 billion, with FBTC registering the largest inflow. On July 19, spot Bitcoin ETFs recorded inflows of $383.6 million, the second highest of the month.
The Bitwise Bitcoin ETF (BITB) and the VanEck Bitcoin Trust ETF (HODL) also saw significant inflows, reinforcing the trend of increasing investor interest. Grayscale’s GBTC reversed a streak of negative flows, bringing in $20.3 million and maintaining $18.29 billion in net assets. Other ETFs like Coinshares Valkyrie Bitcoin Fund ETF (BRRR) and Invesco’s BTCO saw modest inflows.
Overall, the spot Bitcoin ETF market hit a six-week-high in inflows, driven by renewed investor confidence. This surge in ETF uptake mirrored Bitcoin’s price increase, which saw a 14.4% rise over the week. At the time of writing, Bitcoin was trading at $66,541, with a market capitalization of $1.3 trillion.
This trend highlights the growing strategic importance of Bitcoin ETFs in the broader crypto market.
