Indeed, spot exchange-traded funds (ETFs) Bitcoin in the United States had an exceptional day. This occurred on July 12th. These ETFs attracted more than $310 million in net inflows. This was their best performance since June 5th.
BlackRock and Fidelity Leading the Pack
Two major players led this surge: BlackRock’s iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund. These industry giants were the biggest contributors, with $120 million and $115.1 million respectively. Following them are the Bitwise Bitcoin ETF with $28.4 million and the Grayscale Bitcoin Trust with a net inflow of $23 million. VanEck and Invesco also recorded net inflows of $6 million and $4 million, respectively. Some Bitcoin ETFs, notably those from Hashdex, Franklin Templeton, Valkyrie, and WisdomTree, recorded no net inflows on July 12th.
Moreover, this positive performance was no fluke! Since July 8th, spot Bitcoin ETFs have collectively garnered a significant amount of $1.04 billion.
Impressive Growth Despite Grayscale Outflows
Overall, spot Bitcoin ETFs have accumulated net inflows of $15.8 billion since their launch, a little over six months ago. It is important to note that this figure includes more than $18.6 billion in outflows from Grayscale’s flagship Bitcoin product. This was converted into a spot ETF format following the approval of the US SEC in January. Hashdex is the only other spot Bitcoin ETF with a net outflow, though it is relatively small ($2 million).
While Bitcoin itself has seen a modest increase of 1.1% recently, it remains down nearly 15% from the past month. It is also down 21% from its all-time high. Looking ahead, some spot Bitcoin ETF issuers are preparing to launch spot ETFs Ether on July 15th, pending final SEC approval.
We look forward to seeing what comes next!
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