Spot Bitcoin ETFs Inflow Surge Amid Selling Pressure
Spot Bitcoin exchange-traded funds have experienced a surge in inflows despite significant selling pressure in recent months. Data from SoSo Value indicates a daily net inflow of over $50 million as of August 1, totaling $17.74 billion.
Leading ETFs and Total Net Assets
- BlackRock’s IBIT leads with $21.7 billion in assets and over $20 billion in net inflows.
- Grayscale’s GBTC follows with $15.2 billion in net assets.
- Fidelity’s FBTC holds $11.3 billion in net assets.
Institutions’ Bitcoin Holdings
Data shared by Ecoinmetrics on X reveals:
- ETFs and similar products hold 5.2% of Bitcoin’s supply.
- Publicly traded companies own 1.6%.
- Private firms possess 2%.
In total, institutions control nearly 9% of the cryptocurrency’s supply.
Bitcoin Exchange Outflows and Bullish Trend
Analysis by CryptoQuant highlights a steady rise in Bitcoin outflows from exchanges, a trend usually viewed as bullish. Decreased BTC supply on exchanges may drive price increases with sustained or growing demand.
Despite the US national debt surpassing $35 trillion, Bitcoin faced rejection near the $70,000 mark and currently trades at $64,500.
Hot Take: Bitcoin ETF Inflows Mirror Institutional Adoption
Bitcoin’s rising popularity among institutions is evident in the significant inflows into spot Bitcoin ETFs. As more institutions embrace cryptocurrency assets, Bitcoin’s position as a digital store of value strengthens.
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