While the German authorities was on a powerful promoting spree all through this week, spot Bitcoin ETFs within the US witnessed heavy accumulation netting inflows of greater than $1.1 billion this week. As a end result, the Bitcoin value has managed to stop any main volatility and is at the moment buying and selling 1.21% up at $57,924 with a market cap of $1.142 trillion.
Bitcoin ETF Holdings Hit All-Time High
The spot Bitcoin ETFs within the US witnessed consecutive inflows for the previous six buying and selling periods. Interestingly, this was the most effective weekly influx recorded by BTC ETFs because the month of May. As per information from HODL15Capital, the Bitcoin holdings by the US ETFs have touched an all-time excessive of 888,607 BTC.
🧮 Updated USA Bitcoin ETF holdings (together with right this moment’s inflows).
New all-time excessive of 888,607 BTC held by the U.S. ETFs 👇 https://t.co/WsdwjZnaN2 pic.twitter.com/HUrEBSNzvi
— HODL15Capital 🇺🇸 (@HODL15Capital) July 13, 2024
As of Friday, July 12, the overall inflows of the US Bitcoin ETF stood at a staggering $311 million with BlackRock’s IBIT main the present with $121 million in inflows. Fidelity’s FBTC stood second with $115 million in inflows on Friday. None of the spot Bitcoin ETFs noticed any outflows together with Grayscale’s GBTC.
The BlackRock BTC ETF was main all through the week netting complete inflows of $523 million this week whereas Fidelity’s FBTC noticed $356 million of web inflows this week. With this, the overall AUM in BlackRock IBIT has now crossed $18.2 billion whereas Fidelity’s FBTC AUM is simply wanting $10 billion since inception.
Also Read: Why Is Bitcoin Price Dropping Despite Higher Odds Of Fed Rate Cut?
Total Global BTC ETFs Holdings At All-Time High
Not solely the US BTC ETFs, however world ETFs having publicity to Bitcoin have seen their holdings surge to an all-time excessive of 1,051,569 BTC.
The Hong Kong Bitcoin ETFs have additionally continued silent accumulation with its complete BTC holdings hitting a brand new file excessive of 4,941 BTC.
✅ Bitcoin held by the Hong Kong 🇭🇰 Bitcoin ETFs hits file excessive👇 pic.twitter.com/3GZmN1PlR0
— HODL15Capital 🇺🇸 (@HODL15Capital) July 12, 2024
Interestingly, this growth comes with the German government liquidating all of its Bitcoin holdings over the previous month. Seems that the inflows into ETFs have managed to efficiently take up the promoting stress on Bitcoin. It additionally exhibits that the institutional demand for regulated bitcoin merchandise stays intact regardless of the present value volatility.
Also Read: JP Morgan Predicted Next Crypto Bull Run?
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