Bitcoin ETFs log over $300 million in net inflows to reach record level following six-day streak
Bitcoin ETFs on Friday had their best day since June 5 of total net inflows, gaining over $300 million according to SoSoValue data.The notable sum marks six trading days in a row of positive inflows to spot bitcoin ETFs, which have logged an additional $1 billion in assets since the start of the streak on July 5 to reach the highest level of cumulative net inflows seen since the launch of the ETFs in January.
Following a six-day streak of positive net inflows that began on July 5, U.S.-based spot bitcoin exchange-traded funds have set a new record for cumulative total net inflows: $15.81 billion, according to SoSoValue data.
The funds have added over $1 billion in assets under management since the beginning of the six-day streak. Friday, the latest trading day, was also the most successful day for net inflows since June 5, with spot bitcoin ETFs logging $310 million in net inflows.
The inflows were largely led by BlackRock's IBIT, the largest spot bitcoin ETF by asset value, which added $120 million on Friday. Fidelity's FBTC was close behind with $115 million in inflows, while the majority of the remainder comprised of inflows to Grayscale's GBTC, Bitwise's BITB, and Ark Invest's ARKB funds, according to SoSoValue .
The cumulative net total inflow of $15.81 billion is the highest yet recorded for the funds, narrowly surpassing the previous record of $15.69 billion recorded on June 7, 2024.
However, bitcoin's price has fallen about 17.5% from its value of about $71,500 on that date to its current value of about $58,900 as of publication time, according to The Block's Bitcoin price page . The total volume traded on July 12, $1.15 billion, was also lower than June 7, when over $2.5 billion traded hands.
Though the current total net asset value of the exchange-traded funds is lower than its all-time sum, the level of net inflows is currently at a record high, meaning a recovery in bitcoin's price could see that record surpassed as well.
Meanwhile, the crypto industry eagerly anticipates more news on the spot Ethereum ETH +0.52% ETF front. Industry experts have noted that after several rounds of back-and-forth with the SEC, the funds appear to be readying for launch this month .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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