Bitcoin ETF Traders Seize Buying Opportunity, Inflows Exceed $300M on Monday
Spot bitcoin exchange-traded funds (ETFs) have seen a remarkable surge in investor interest, attracting over $16 billion in inflows since their launch in January. On Monday alone, these ETFs brought in $300 million, extending a streak of seven consecutive days of net inflows.
The U.S.-based spot bitcoin ETFs have witnessed lifetime net inflows surpassing $16 billion, showcasing investors’ active participation in both bullish and bearish market conditions. The latest data from Farside Investors indicates that these funds received an additional $300 million on Monday, marking the seventh straight day of net inflows.
The majority of these inflows were directed towards BlackRock’s iShares Bitcoin Trust (IBIT), which accumulated $117.2 million. With assets under management (AUM) currently standing at $18.4 billion, IBIT is on track to exceed the $20 billion mark soon. Meanwhile, Fidelity’s Wise Origin Bitcoin Fund (FBTC) is nearing the $10 billion AUM threshold.
This surge in inflows coincided with a significant rebound in bitcoin prices from the mid-$50,000 range, where it had been consolidating since earlier this month. Events such as Germany’s sale of 50,000 BTC and Mt. Gox repayments had previously caused market turbulence.
At the time of reporting, Bitcoin (BTC) was trading at $64,600, reflecting a 13% increase from levels observed late on Friday. The sustained influx of ETF investments is noteworthy, especially considering its initiation during bitcoin’s decline in early July. Daily net additions ranging from $140 million to $300 million have defied bearish expectations that the ETF interest was merely speculative and would quickly exit the market in times of volatility.
Furthermore, as the interest in bitcoin ETFs continues to soar, there are indications that issuers are preparing to submit final documents for a potential spot ether ETF to the U.S. Securities and Exchange Commission (SEC). The SEC’s recent communication suggests that these funds could become available in the market as early as July 23.
The ongoing momentum in ETF investments underscores the growing confidence and participation of investors in the cryptocurrency market, despite occasional price fluctuations and market uncertainties.
