Bitcoin ETFs Experience $143M in Net Inflows on July 5th
SpotOnChain, a popular on-chain analytics company, recently revealed that Bitcoin ETFs received a total of $143 million in net inflows on July 5th. Despite the overall bearish momentum, this significant increase in value demonstrates investor confidence in the cryptocurrency. SpotOnChain shared these statistics on its official X account.
$BTC
#ETF
Net Inflow July 5, 2024: +$143M!
• The 10 US Bitcoin ETFs received a net inflow of $238M with inflows on 2 out of 4 trading days this week, despite the
$BTC
price dropping 7%.
• Only
#Grayscale
(GBTC) saw an outflow yesterday.
•
#BlackRock
(IBIT) had a net flow…
pic.twitter.com/27gGIVOLDr
— Spot On Chain (@spotonchain)
July 6, 2024
Bitcoin ETFs Garner $143M in Net Inflows on July 5th
In its recent X post, SpotOnChain emphasized the positive nature of this development. Despite the significant decline in the price of Bitcoin, these inflows indicate a strong belief among investors. The analytics firm also highlighted the performance of Bitcoin exchange-traded funds throughout the week.
According to SpotOnChain, the ten well-known BTC ETFs in the United States saw a total of $238M in inflows during this period. It is important to note that the top cryptocurrency experienced a dip of over seven percent during this time. Nevertheless, the ETF sector is making notable progress.
SpotOnChain also provided details on the individual inflows of the BTC ETFs.
Fidelity Bitcoin ETF Leads with $117.4M in Daily Inflows
According to the on-chain analytics platform, only one ETF, Grayscale (GBTC), recorded outflows on July 5th. However, some exchange-traded funds had no significant flows. These ETFs include BTCW, EZBC, BTCO, BRRR, and IBIT. On the other hand, HODL, BITB, ARKB, and FBTC secured net inflows of $12.9M, $30.2M, $11.3M, and $117.4M respectively.
