On July 12, Bitcoin exchange-traded funds (ETFs) based in the United States saw a big increase in investments, their best day since June 5. More than $310 million was invested, with most of the money going to BlackRock and Fidelity.
According to Farside Investors data, BlackRock’s iShares Bitcoin Trust (IBIT) led with $120 million in inflows, while Fidelity Wise Origin Bitcoin Fund (FBTC) followed closely with $115.1 million.
Bitwise Bitcoin ETF got the third position, receiving inflow cash of $28.4 million. Notably, Grayscale Bitcoin Trust (GBTC) had an unusual positive day with net flow amounting to $23 million.
Other ETF products including VanEck Bitcoin Trust ETF and Invesco Galaxy Bitcoin ETF saw an inflow of $6 million and $4 million, respectively. However, not all issuers shared in the day’s gains, as the Hashdex, Franklin Templeton Valkyrie, and WisdomTree-issued spot Bitcoin ETFs failed to register inflows.
This week’s flows amounted to a total combined $1.04 billion as demand for Bitcoin-based investment products keeps growing. In just over six months, spot Bitcoin ETFs have gathered $15.8 billion in total investments.
It’s important to note that this figure also accounts for the significant outflows from Grayscale’s converted Bitcoin product, which has seen over $18.6 billion in outflows since its conversion to a spot ETF in January. Hashdex Bitcoin ETF (DEFI) is the only other spot Bitcoin ETF to experience a net outflow, though relatively small at $2 million.
As of the time of writing, Bitcoin is trading at $58,158, showing a 1.7% increase over the last 24 hours according to CoinMarketCap.
Looking ahead, some Bitcoin ETF issuers are now preparing to launch spot Ether ETFs, which could debut as early as next week. These issuers are awaiting approval from the U.S. securities regulator on their amended S-1 registration statements, having received initial feedback late last month.
Also Read: REX Shares Launches 2X Bitcoin ETFs for Volatility Traders