Bitcoin ETF Inflows Push Total AUM To New ATH Above $16 Billion

The third week of July has began on a reasonably robust observe with the Bitcoin value surging all the way in which to $65,000 whereas the overall Bitcoin ETF inflows proceed to stay sturdy. On Monday, the US Bitcoin ETFs recorded over $300 million in inflows for the second consecutive day.

Bitcoin ETF Inflows Make New Milestone

For the final seven consecutive buying and selling classes, the spot Bitcoin ETFs have registered robust inflows which is a wholesome growth hinting at much less long-term volatility for Bitcoin.

On Tuesday, the US BTC ETFs registered web inflows of $300.9 million with not one of the ETFs exhibiting any outflows. Together with BlackRock’s IBIT, Ark Invests ARKB led the overall inflows on Monday at $117.2 million every.

With this, the overall belongings beneath administration for all 9 spot Bitcoin ETFs within the US have crossed $16.1 billion for the primary time since inception. After all, BlackRock is main the pack by way of the general contribution to the overall AUM. These robust inflows have continued following BlackRock CEO Larry Fink strongly endorsing Bitcoin investments in his newest CNBC interview. Fink mentioned:

“I’m a serious believer that there’s a position for Bitcoin in portfolios. I consider you’re going to see that as one of many asset lessons that all of us have a look at. I have a look at it as digital gold, as I mentioned earlier than”.

Additionally Learn: Ethereum To Outperform Bitcoin After Spot ETF Launch

ETF Buying and selling volumes Skyrocket

On Monday, the buying and selling volumes for BTC ETFs surged considerably. Blackrock’s IBIT led the pack recording almost $1.2 billion in buying and selling volumes adopted by Constancy’s FBTC seeing over $410 million in day by day buying and selling volumes.

✅ U.S. Bitcoin ETF buying and selling volumes on 7/15 👇$IBIT $1.2 Billion, $FBTC > $GBTC, $ARKB $165m, $BITB $92m pic.twitter.com/Mso5YsH8m2

— HODL15Capital 🇺🇸 (@HODL15Capital) July 15, 2024

Whereas the Bitcoin ETFs offered a regulated approach to search publicity to the asset class, they’ve seen robust demand from retail in addition to institutional buyers alike.

CryptoQuant CEO Ky Younger Ju acknowledged: “Even simply combining the 80 firms discovered manually in SEC filings accounts for 17% of the overall ETF holdings. Whereas not all could be thought-about institutional buyers, vital numbers are included. Viewing ETF inflows solely as retail contributions appears inappropriate”.

Additionally Learn: Hong Kong & Australia Bitcoin ETF Inflows Hit Record High