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AltcoinsBitcoin ETFs See Ongoing Expansion with Historic Inflows

Bitcoin ETFs See Ongoing Expansion with Historic Inflows

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Bitcoin ETFs saw a significant increase in net inflows of $129 million on July 1, 2024, indicating a bullish sentiment in the sector. There were no outflows reported by any U.S. Bitcoin ETFs, signaling strong investor confidence.

Fidelity’s Bitcoin ETF (FBTC) led the day with the highest single-day inflow of $65 million. Meanwhile, BlackRock (IBIT) and Grayscale (GBTC) reported net flows of $0, maintaining stable positions for the day. This positive trend in net inflows has continued for five consecutive trading days, highlighting a robust market appetite for Bitcoin investments. This growth period reflects growing trust and interest in cryptocurrency as a viable asset class among both institutional and retail investors.

Australia’s Monochrome Bitcoin ETF (Ticker: IBTC) has demonstrated a consistent acquisition strategy, steadily increasing its holdings from 48 to 65 bitcoins from June 14 to June 27. The ETF’s assets under management (AUM) also grew from AUD $4,724,449.32 to AUD $5,981,088.75 during this period, indicating not only an increase in the number of bitcoins held but also a substantial appreciation in value. This reflects the ETF’s strategic investment approach during market fluctuations and its long-term approach to cryptocurrency investment.

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