Spectacular inflows into the spot Bitcoin ETF markets have continued for the eighth consecutive day with a complete of $429 million flowing in on Tuesday, July 16. Leading the present has been BlackRock Bitcoin ETF IBIT which has now crossed over $18.5 billion in complete property below administration since its inception in January.
BlackRock Bitcoin ETF IBIT Hits Key Milestones
On Tuesday, July 16, the BlackRock Bitcoin ETF IBIT witnessed a large $260 million influx scooping a complete of 4,005 BTC from the open market. Over the previous seven buying and selling classes, IBIT has been the most important contributor to the full inflows into Bitcoin ETFs. The BlackRock Bitcoin fund alone has contributed to $900 million of inflows throughout this era.
With this present milestone, BlackRock’s IBIT has fully swallowed the entire $18.6 billion of outflows contributed by Grayscale’s GBTC. As a outcome, the full Bitcoin ETF AUM throughout all merchandise hit a document excessive of $16 billion.
As per information from HODL15Capital, the full Bitcoin ETF inflows for Tuesday stood to be $429 million with the funding funds collectively shopping for 6,608 BTC from the open market. Apart from BlackRock, Fidelity’s FBTC noticed a $61.1 million influx whereas Ark Invest’s ARKB noticed $29.8 million in inflows. Just inside the final three days, the US BTC ETFs recorded over $1 billion in complete inflows.
✅ 7/16 U.S. Bitcoin ETF inflows of $429 million (6,608 $BTC)
eighth consecutive optimistic day 🧮👇 Last 3 days > $1 Billion inflows pic.twitter.com/nkauouZ2DT
— HODL15Capital 🇺🇸 (@HODL15Capital) July 17, 2024
Throughout this month of July, the US BTC ETFs have recorded all optimistic days of inflows, apart from simply two days of outflows on July 2nd and third.
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ETF Trading Volumes Surge
Strong buying and selling volumes for the spot Bitcoin ETFs present large confidence amongst retail in addition to institutional traders. For the second consecutive day, BlackRock’s IBIT clocked over $1 billion in buying and selling quantity.
On the opposite hand, Fidelity’s FBTC noticed $252.76 million in inflows whereas Bitwise’s BITO clocked $229 million in buying and selling volumes.
✅ U.S. Bitcoin ETF buying and selling volumes on 7/16 👇$IBIT $1 Billion, $FBTC > $GBTC, $ARKB $97m, $BITB $72m pic.twitter.com/EKqrbtBLIR
— HODL15Capital 🇺🇸 (@HODL15Capital) July 16, 2024
Apart from the US markets, demand for spot Bitcoin ETFs in Australia and Hong Kong stays very excessive. The Monochrome BTC ETF IBTC has stacked up a complete of 85 BTC valued at $7.99 million.
These large inflows despatched the Bitcoin price hovering all the way in which to $65,800 ranges earlier in the present day, thereby compensating for the Mt. Gox FUD.
Also Read: Bitcoin Falls As Mt. Gox Transfers $6B In BTC, $210M Liquidated
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