Bitcoin surged past $64,000 on July 15, 2024, after $301 million flowed into eleven U.S. spot Bitcoin ETFs. This marks the seventh consecutive day of positive inflows.
Notably, Fidelity’s FBTC and Bitwise’s BITB ETFs saw inflows of $36.15 million and $15.24 million, respectively. Other ETFs from VanEck, Invesco, Galaxy Digital, and Franklin Templeton also reported net inflows.
However, Grayscale’s GBTC experienced no inflows and has had total outflows of $18.63 billion since inception. Overall, $2.26 billion was traded on U.S. spot Bitcoin funds on Monday, lower than the $8 billion-plus days seen in March.
Bitcoin traded at $64,874 at publication time. BlackRock CEO Larry Fink acknowledged Bitcoin as a “legitimate financial instrument.” The market anticipates SEC approval of spot Ether ETFs soon, potentially within July.
Analysts expect strong inflows for ETH Spot ETFs proportional to Bitcoin’s market cap. Long-term, this trend signals growing institutional acceptance of digital assets.
