US spot bitcoin ETFs post $422 million in net inflows, largest since early June

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The Block2024/07/17 05:02

By:Danny Park

Spot bitcoin ETFs in the U.S. reported $422.67 million worth of net inflows on Tuesday.BlackRock’s IBIT led inflows with $260.23 million, its largest since June 6.

The 11 U.S. spot bitcoin exchange-traded funds reported $42267 million in daily net inflows on Tuesday, marking the largest sum of intake since June 5. This extended their positive flow streak to eight days.

BlackRock’s IBIT led the pack of inflows with $260.23 million, its largest net inflows since June 6, according to data from SoSoValue. IBIT saw around $1.02 billion worth of trade volume on Tuesday.

Fidelity’s FBTC followed with $61.05 million inflows, along with $29.85 million from Ark Invest and 21Shares’ ARKB and $22.04 million from VanEck’s HODL.

Invesco and Galaxy Digital’s spot bitcoin fund saw $20.54 million in net inflows, while Bitwise's BITB reported $17.34 million. Bitcoin BTC +2.05% ETFs from Franklin Templeton and Valkyrie also drew in funds yesterday.

Meanwhile, Grayscale’s converted GBTC fund recorded zero flows. No funds reported net outflows on Tuesday.

A total of $1.76 billion worth of value was traded on the U.S. spot bitcoin funds on Tuesday. The ETFs have accumulated a total net inflow of $16.53 billion since launching in January.

Meanwhile, the price of bitcoin rose 1.61% in the past 24 hours to trade at $65,865, according to The Block’s bitcoin price page . The world’s largest cryptocurrency briefly peaked above $66,000 earlier today.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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