Bitcoin ETFs in the US See Inflows of $2 Billion in Two Weeks Amid Growing Market Confidence
US spot Bitcoin ETFs have attracted more than $2 billion in investments over the last two weeks amidst a resurgence of positivity in the market, as indicated by the Crypto Fear and Greed Index reaching its highest level since late June, according to data from SoSoValue and Alternative.me.
The Crypto Fear and Greed Index surged by 14 points to 74 on Saturday, coinciding with Bitcoin reaching a peak of $66,800 on Friday. Last week, despite prevailing bearish sentiment, US spot Bitcoin ETFs managed to draw in over $1 billion in inflows.
This positive trend continued into the current week, with a notable influx of $301 million on Monday alone. The total weekly inflows for these funds exceeded $1 billion, with the largest daily inflow of over $422 million recorded on Tuesday.
Among the standout performers this week, BlackRock’s IBIT led the way with approximately $706 million in inflows. IBIT has accumulated over $1.2 billion in inflows in the past two weeks, representing half of the total flows into eleven spot funds during that period. As of July 19, the fund retains its position as the largest spot Bitcoin ETF with nearly $22 billion in assets under management.
Fidelity’s FBTC witnessed around $244 million in inflows, while Bitwise’s BITB reported over $70 million in the same period. Notable gains were also observed in ARK Invest’s ARKB, VanEck’s HODL, Invesco’s BTCO, Franklin Templeton’s EZBC, Valkyrie’s BRRR, and WisdomTree’s BTCW.
Despite a net inflow of over $20 million on Friday, Grayscale’s GBTC experienced outflows of approximately $56 million. The sustained inflows into these ETFs have persisted for eleven consecutive trading days.
The positive momentum in the US spot Bitcoin ETF market reflects a growing confidence and interest from investors, with substantial investments pouring into these funds amidst improving market sentiment and Bitcoin’s price movements.
