BlackRock’s IBIT Leads US Spot Bitcoin ETFs with $117.25M Daily Net Inflows Amid Market Recovery

• The US spot Bitcoin ETFs showcased a daily net inflow of $301 million on July 15th, indicating a consistent positive momentum over a seven-day period amidst broader market recovery.
• None of the ETFs experienced outflows, reinforcing the positive sentiment in the market.
• Notably, since January, Bitcoin ETFs have amassed an impressive $16.11 billion in net inflows.

Discover the significant influx into US spot Bitcoin ETFs, the ongoing market trends, and expert insights predicting Bitcoin’s future price movements.

US Spot Bitcoin ETFs See $301 Million Daily Inflow

The US spot Bitcoin ETFs recorded a remarkable daily net inflow of $301 million on July 15th, adding to a seven-day streak of positive inflows amid a broader market recovery. BlackRock’s IBIT, a leading spot Bitcoin ETF by net asset value, dominated the day’s inflow with $117.25 million. As the most actively traded Bitcoin ETF on Monday, IBIT saw a trading volume of $1.24 billion.

Consistent Inflows Across Major Bitcoin ETFs

BlackRock’s IBIT wasn’t alone in recording significant gains. Ark Invest and 21Shares’ ARKB followed closely with $117.19 million in net inflows. Fidelity’s FBTC saw $36.15 million in net inflows, while Bitwise’s BITB recorded $15.24 million. Other ETFs such as VanEck’s HODL, Invesco and Galaxy Digital’s BTCO, and Franklin Templeton’s EZBC reported positive inflows as well. The collective performance of these ETFs is a strong indicator of growing investor confidence in the Bitcoin market.

Market Trends and Volume Insights

On Monday, a total of $2.26 billion was traded, showcasing substantial trading activity, albeit lower compared to peaks in March when volumes exceeded $8 billion on some days. Since their inception in January, these funds have collectively attracted $16.11 billion in net inflows, underscoring the sustained interest and investment in Bitcoin ETFs.

Bitcoin’s Price Recovery and Market Sentiment

The recent market recovery has been partially attributed to the waning fears of significant sell-offs from entities like Mt. Gox and the German government. Further fueling this recovery was the failed assassination attempt on pro-crypto former US President Donald Trump, which injected bullish sentiment into the market. Bitcoin’s price surged over 9% in the past week, positioning it just below the $64,000 mark. Veteran trader Peter Brandt has indicated that this upward trend may continue, pointing to his “Hump->Slump->Bump->Dump->Pump” pattern analysis. However, he warned that a close below $56,000 could undermine this bullish outlook.

Conclusion

The US spot Bitcoin ETFs have shown robust performance with consistent inflows, indicating strong investor confidence despite past market volatility. As Bitcoin’s price recovers and sentiment remains positive, the future outlook appears promising. Traders and investors will continue to monitor price movements closely, especially influential patterns and key support levels identified by market veterans. Consistent inflows and positive trading volumes underscore the growing institutional interest in Bitcoin, which could drive future growth and stability in the crypto market.