Bitcoin (BTC) ETFs in the U.S. recorded their fifth consecutive day of inflows on July 11, netting $72.1 million as Bitcoin surpassed the $59,000 mark. This follows a strong week beginning July 5, which saw $143.1 million in capital inflows.
Bitwise’s BITB and ARK’s ARKB also reported increases, with inflows of $7.5 million and $4.3 million respectively, pushing their total inflows to $2.1 billion and $2.5 billion. In contrast, Grayscale’s GBTC experienced a $37.7 million outflow, totaling $18.7 billion in withdrawals.
Despite this, the overall market for Bitcoin ETFs remains robust, with cumulative inflows hitting $15.5 billion. This positive trend aligns with U.S. inflation rates decelerating for the fourth consecutive month, highlighting economic stability.
Bitcoin prices rebounded, exceeding the $59,000 mark on July 11, a 3.4% increase over the past week. The influx of capital into Bitcoin ETFs has helped stabilize prices amid potential supply pressures.
This ongoing positive inflow underscores the strategic importance of Bitcoin ETFs in providing market stability and investor confidence in the cryptocurrency sector.
