On July 8, U.S. Spot Bitcoin (BTC) ETFs saw significant inflows of $295 million, sparking a market-wide rebound. These inflows have brought the IBIT close to the $18 billion mark, currently at $17.92 billion.
The Fidelity Wise Origin Bitcoin Fund (FBTC) also recorded $61.5 million in inflows, reaching a total of $9.42 billion. Additionally, the Grayscale Bitcoin Trust (GBTC) saw the third-largest inflow of $25.1 million.
As a result, the global cryptocurrency market capitalization surged by 4.2% to $2.22 trillion within 24 hours. Daily trading volumes rose by 30%, totaling around $117 billion. Bitcoin and Ethereum experienced price hikes of 3.5% and 5.5%, respectively, with BTC trading at $57,650 and ETH at $3,080.
This event underscores the growing confidence in Bitcoin ETFs and their potential to drive market growth long-term.
