Record Inflows for U.S. Bitcoin ETFs Indicate Institutional Interest 📈
Recently, the ten U.S. spot Bitcoin ETFs witnessed a considerable inflow of $310 million or 5,361 BTC on Friday, July 12. This significant inflow marks the largest influx into the derivatives products since June 5, according to Farside Investors. 🚀
Positive Flow Trend Continues for Institutional Investors 📊
For the sixth consecutive day, institutional investors have shown interest in buying the bottom during the recent market correction. This ongoing positive flow trend suggests a strong belief from these investors in the future potential of Bitcoin. 🔍
- Over the past week, the total inflow to these ETFs has exceeded a billion dollars.
- The products have not experienced any outflows since July 3, indicating a sustained interest in Bitcoin among institutional investors.
Record BTC Supply Managed by ETFs 💰
The BlackRock IBIT fund led the pack with a substantial inflow of $120 million, followed closely by Fidelity’s FBTC with $115 million. Notably, the IBIT fund reached a milestone of $18 billion in inflows since its launch in January. 🎯
“IBIT et al. continue to gobble up BTC like Super Pac-Man. Impressive given price still sub-60k after a 20% drop,” commented senior ETF analyst Eric Balchunas in a post on X on July 12.
- The Bitwise Bitcoin ETF BITB received around $28 million in inflows.
- Other ETFs saw negligible inflows, with Grayscale’s GBTC spot ETF recording $23 million after three days of outflows earlier in the week.
Global Bitcoin ETF Holdings Reach New High 🌏
HODL Capital reported that the total BTC held by all Bitcoin ETFs worldwide has surpassed one million, setting a new record. This amount represents approximately 5.3% of the total circulating supply of Bitcoin. 🌐
“UPDATED global Bitcoin ETF tracker: 39 funds HODL 1,051,569 Bitcoin (new record high),” tweeted HODL15Capital on July 13.
Retail Traders Show Caution 🛑
Despite the aggressive accumulation by Bitcoin ETFs, retail market sentiment remains in extreme fear, as noted by analysts. This discrepancy highlights a divergence between institutional and retail investors’ outlook on the market. 🧐
Bitcoin’s price surged to an intraday high of $58,500 on Friday and crossed $60,000 on Sunday morning following an eventful weekend.
The German government reportedly exhausted its Bitcoin supply, potentially alleviating selling pressure in the market. 🔒
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