Bitcoin surged past $66,000 on July 17, following a record $422.5 million inflow into eleven U.S. spot Bitcoin ETFs. This marks the highest ETF inflow since June 5.
Among the notable ETFs, the VanEck Bitcoin ETF and Invesco Galaxy Bitcoin ETF saw inflows above $20 million. Meanwhile, Grayscale, Hashdex, and WisdomTree’s ETFs did not register any inflows.
BlackRock now holds Bitcoin assets worth over $20 billion, boosted by acquiring 4,004 BTC and a recent 3% price increase. This milestone follows BlackRock’s surpassing $20 billion in assets in May.
Crypto whales have been active, with custodial wallets amassing 85,000 BTC in the last 30 days. Despite some market panic, significant buying continues.
Bitcoin is currently priced at $65,340, up 11.2% over the past week, rebounding from a low of $53,600. The crypto market is also anticipating SEC approval of spot Ether ETFs, likely to start trading on July 23.
This event underscores growing institutional interest in Bitcoin, potentially stabilizing and legitimizing the cryptocurrency market long-term.
