US Spot Bitcoin Exchange Traded Funds (ETFs) Witness Record Inflows Since June 7! Here’s What You Need to Know
Eleven US spot Bitcoin exchange-traded funds (ETFs) saw a significant surge in net inflows on Monday, accumulating a total of $129.45 million. This marks the fifth consecutive day of positive flows and the largest influx since June 7.
Among these ETFs, Fidelity’s FBTC reported the highest inflow, with $65 million. Bitwise’s BITB closely followed with a net inflow of $41 million.
Ark Invest and 21Shares’ ARKB recorded a net inflow of $13 million. On the other hand, Invesco, Galaxy Digital, VanEck, and Franklin Templeton reported relatively smaller inflows, around or below $5 million each.
Interestingly, the two largest spot Bitcoin ETFs in terms of net asset value, BlackRock’s IBIT and Grayscale’s GBTC, did not experience any inflows on Monday.
The combined trading volume of these 11 Bitcoin funds reached approximately $1.36 billion on Monday. Since their launch in January, these ETFs have accumulated a total of $14.65 billion in net inflows.
According to QCP Capital analysts, both Bitcoin and Ethereum typically perform well in July due to historically positive seasonality. Coinbase analysts also highlighted the positive seasonal trend observed in July, suggesting that it could be a favorable month for the cryptocurrency market.
Please note that this article does not provide investment advice.
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