- The biggest net inflows of the day were $72.09 million into BlackRock’s IBIT.
- Grayscale’s GBTC had net withdrawals of $37.69 million on Thursday.
The bullish streak for the U.S spot bitcoin exchange-traded funds (ETFs) reached five days on Thursday, with a total daily net inflow of $78.93 million.
SoSoValue data shows that the biggest net inflows of the day were $72.09 million into BlackRock’s IBIT, the biggest spot bitcoin ETF by net asset value. With $725.61 million in trading volume on Wednesday, the fund also topped all bitcoin ETFs. The FBTC from Fidelity received $32.69 million in net inflows.
In addition to Bitwise’s $7.53 million spot bitcoin fund, Ark Invest and 21Shares’ ETF brought in $4.31 million. Grayscale’s GBTC had net withdrawals of $37.69 million on Thursday, offsetting the inflows. Zero flows were recorded yesterday by six other funds.
U.S spot bitcoin funds transacted a total of $1.31 billion in value on July 11. Compared to March, when trading volume surpassed $8 billion on many occasions, the activity in spot bitcoin ETFs remained much lower. Since their January inception, the ETFs have received a total of $15.5 billion in net inflow.
Prolonged Downward Trend
The newest updated registration statements for spot Ethereum ETFs from U.S. issuers are currently pending clearance from the SEC. Issuers have submitted revised S-1 statements for the ether funds in response to the SEC. Nonetheless, one issuer has said that it anticipates the next letter from the agency to provide extremely informative details about the upcoming debut.
For the last few weeks, the cryptocurrency market throughout the world has been in a prolonged downward trend. At the time of writing, bitcoin is trading at $57,851, up 0.51% in the last 24 hours as per data from CMC.
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