YEREVAN (CoinChapter.com) — United States-based spot Bitcoin exchange-traded funds (ETFs) saw significant inflows on July 12. Over $310 million flowed into these funds, marking their best-performing day since June 5. BlackRock’s iShares Bitcoin Trust and the Fidelity Wise Origin Bitcoin Fund led the way.
Major Bitcoin ETFs See Strong Inflows, Smaller Funds Lag Behind
BlackRock’s iShares Bitcoin Trust recorded $120 million in inflows. Fidelity’s Wise Origin Bitcoin Fund followed closely with $115.1 million. These two funds captured the majority of the day’s inflows, showing strong investor interest.
The Bitwise Bitcoin ETF came in third, bringing in $28.4 million. Grayscale Bitcoin Trust also recorded an inflow of $23 million, a rare occurrence for the fund.
The VanEck Bitcoin Trust ETF and Invesco Galaxy Bitcoin ETF also saw positive inflows. VanEck recorded $6 million, and Invesco saw $4 million. Though smaller than BlackRock and Fidelity, these inflows indicate steady interest in Bitcoin ETFs.
In contrast, ETFs from Hashdex, Franklin Templeton, Valkyrie, and WisdomTree did not register any inflows on July 12.
Bitcoin ETFs Attract Over $1 Billion in a Week
July 12 capped a strong week for Bitcoin ETFs. From July 8 to July 12, these funds took in $1.04 billion.
Since their launch a little over six months ago, spot Bitcoin ETFs have seen net inflows of $15.8 billion. This includes $18.6 billion in outflows from Grayscale’s flagship Bitcoin product, which became a spot ETF after SEC approval in January. Hashdex’s Bitcoin ETF has net outflows totaling $2 million.
Bitcoin Sees Daily Gains Amid Monthly Decline
Bitcoin’s price has been volatile. Currently, Bitcoin is trading at $58,362.47, a 2.22% increase over the last 24 hours. However, it is down 13.30% over the past month and significantly below its all-time high.
In addition to Bitcoin ETFs, some issuers are preparing to launch spot Ether ETFs. These new products could debut as early as July 15, pending SEC approval. This launch could diversify the cryptocurrency ETF market further.
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