Spot Bitcoin exchange-traded funds (ETFs) in the United States recorded significant inflows on July 12, reaching over $310 million. This marks the best performance since June 5.
Leading ETFs
BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) led the surge with inflows of $120 million and $115.1 million, respectively. The Bitwise Bitcoin ETF followed with $28.4 million, while the Grayscale Bitcoin Trust (GBTC) saw a rare inflow day, collecting $23 million.
VanEck Bitcoin Trust ETF and Invesco Galaxy Bitcoin ETF also contributed to the strong performance, bringing in $6 million and $4 million, respectively. However, ETFs issued by Hashdex, Franklin Templeton Valkyrie, and WisdomTree did not register any inflows on this day.
Weekly and Monthly Performance
July 12 marked the largest inflow day since June 5, when spot Bitcoin ETFs accumulated $488.1 million. This recent surge brought the weekly total to $1.04 billion for spot Bitcoin ETFs.
Since their launch over six months ago, these ETFs have achieved $15.8 billion in net inflows. This figure includes over $18.6 billion in outflows from Grayscale’s flagship Bitcoin product, which was converted into a spot ETF following approval from the US Securities and Exchange Commission (SEC) in January. The Hashdex Bitcoin ETF (DEFI) is the only other spot Bitcoin ETF with a net outflow, totaling $2 million.
Market Trends
The price of Bitcoin has increased by 1.1% in the last 24 hours, currently trading at $57,858, according to CoinGecko. Despite this, it is down nearly 15% over the past month and over 21% below its all-time high.
Future Developments
Several Bitcoin ETF issuers are preparing to launch spot Ether ETFs, potentially as early as next week. These issuers are awaiting approval from the SEC on their amended S-1 registration statements after receiving initial feedback late last month.
Key Takeaways
- Best Inflow Day Since June 5: July 12 saw over $310 million in inflows.
- Top Performers: BlackRock and Fidelity led the pack with significant inflows.
- Weekly Total: Spot Bitcoin ETFs garnered $1.04 billion this week.
- Market Movement: Bitcoin prices have risen slightly in the last 24 hours but remain down over the past month.
- Upcoming Launches: Spot Ether ETFs could launch soon, pending SEC approval.
