The US spot Bitcoin ETFs have given a powerful comeback registering their ninth consecutive day of inflows on Wednesday, July 17. Over the previous week, these ETFs have scooped massive quantities of Bitcoins taking the BTC worth all the way in which over $65,000.
US Bitcoin ETFs Eye 1 Million BTC Holdings
On Wednesday, the 9 spot Bitcoin ETFs noticed $53 million in complete inflows with BlackRock’s IBIT main the present with one other $110 million in inflows. Interestingly, the online inflows dropped considerably from greater than $400 million on the day gone by, Tuesday. With over $57 million of outflows, Grayscale’s GBTC performed the foremost spoilsport on Wednesday.
Following yesterday’s inflows, the full BTC holdings of US Bitcoin ETFs have crossed 900,000. contemplating the large inflows coming into Bitcoin not too long ago, there’s each chance that we might even see the 1 million BTC holdings by the month-end.
The US Spot #Bitcoin ETFs now maintain 903,468 $BTC! pic.twitter.com/6ZuXp8Acha
— Crypto Rover (@rovercrc) July 17, 2024
Amid the current efficiency, the full Bitcoin ETF inflows since inception crossed $16 billion for the very first time. This is contemplating the full outflows from GBTC over the previous few months. BlackRock’s IBIT has been the torchbearer main a lot of the inflows. Just within the final eight buying and selling classes, the full IBIT inflows have been greater than $1 billion establishing a serious milestone.
During the second quarter, the institutional holdings in US BTC ETFs have shot up by a staggering 80%. If this momentum continues going forward, the following main milestone just isn’t very far off.
Also Read: BlackRock, Franklin, Bitwise, Invesco, Grayscale, Fidelity File Updated Spot Ethereum ETF S-1
Global ETFs Have Already Crossed the One Million Milestone
Apart from the United States, BTC ETFs worldwide have witnessed sturdy inflows. There’s little question that the US holds the lion’s share of the market. Outside the US, Canada’s Purpose Bitcoin ETF is the biggest BTC holder with greater than 27,000 Bitcoins.
Global Bitcoin ETF tracker👇 39 funds HODL 1,051,569 #Bitcoin 🧮 pic.twitter.com/ySTrqfiAXe
— HODL15Capital 🇺🇸 (@HODL15Capital) July 14, 2024
Other abroad markets like Hong Kong have additionally seen sturdy participation with its BTC holdings crossing over 5,000 BTC inside just a few months of launch. Obviously, these are smaller markets compared to the liquidity that the US market gives.
✅ Bitcoin held by Hong Kong 🇭🇰 Bitcoin ETFs hits document excessive👇
5,000+ $BTC pic.twitter.com/KEtfFAz06y
— HODL15Capital 🇺🇸 (@HODL15Capital) July 17, 2024
Also Read: Ethereum To Outperform Bitcoin After Spot Ether ETF Launch
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