Bitcoin Exchange-traded Funds Record Highest Inflows in 30 Days

Even though the price of Bitcoin has recently dropped to $54,000, a decrease of 25% from its peak of $73,000 in March, there has been a surge in inflows for spot Bitcoin ETFs on July 5. In total, these ETFs gained $143 million, marking their strongest day of inflows in a month.

Four of the top 11 spot Bitcoin ETFs experienced inflows, adding up to over 3,000 BTC, which is equivalent to about $172 million at current prices.

The majority of these inflows, approximately 80%, went to Fidelity’s FBTC fund, while Bitwise (BITB), Ark 21Shares (ARKB), and VanEck’s (HODL) offerings also saw some inflows.

However, Grayscale’s GBTC saw outflows of 500 BTC, worth about $29 million, according to Coinglass data. The remaining ETFs did not experience significant changes.