The US spot Bitcoin ETFs had a remarkable day on July 15th, with a daily net inflow of $301 million. This marked the seventh consecutive day of positive momentum, reflecting a broader market recovery trend. Notably, none of the ETFs saw outflows on that particular day. The data, as compiled by SoSoValue, revealed that BlackRock’s IBIT led the pack with the largest net inflow of $117.25 million. IBIT also emerged as the most actively traded Bitcoin ETF, with a trading volume of $1.24 billion. Ark Invest and 21Shares’ ARKB closely followed with net inflows of $117.19 million.
Fidelity’s FBTC witnessed a healthy inflow of $36.15 million, while Bitwise’s BITB saw $15.24 million pouring in. Additionally, VanEck’s HODL, Invesco, Galaxy Digital’s BTCO, and Franklin Templeton’s EZBC funds all experienced net inflows. However, Grayscale’s GBTC and other ETFs like Valkyrie’s BRRR, WisdomTree’s BTCW, and Hashdex’s DEFI did not register any flows on that day. The total trading volume for these ETFs on Monday reached $2.26 billion, a significant figure even though it was lower than the peak volumes seen in March, when the trading volume exceeded $8 billion on certain days.
The recent price surge in Bitcoin, which gained over 9% in the past week and was trading around $64,000, has sparked renewed interest and optimism in the market. This surge was partly attributed to the failed assassination attempt on former US President Donald Trump, who is known for his pro-crypto stance. Experts are now bullish on Bitcoin’s price trajectory, with veteran trader Peter Brandt even suggesting a potential major rally. Brandt outlined a pattern he refers to as “Hump->Slump->Bump->Dump->Pump,” indicating a positive outlook for Bitcoin’s price movement. However, he cautioned that a close below $56,000 could invalidate this bullish view.
The increasing popularity and trading activity of US spot Bitcoin ETFs underscore the growing mainstream acceptance and adoption of cryptocurrencies. The recent positive market trends and price surges further enhance the attractiveness of Bitcoin as a viable investment option in the current financial landscape. Investors and analysts alike are closely monitoring these developments, anticipating further growth and opportunities in the crypto market.
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