Bitcoin ETF Sees $485M in Daily Inflow, Highest in 7 Weeks

The US Bitcoin spot ETF saw a single-day net inflow of $533 million on Monday, its highest since June 4. The inflow saw the red-hot Bitcoin product extend its positive flow streak to twelve days, data from Sosovalue showed.

Monday’s $485.88 million inflow steadied Bitcoin above $66,000. The asset saw a slight decline due to selling pressure from Mt. Gox on Tuesday but kept its cool compared to similar scenarios involving the German government.

BlackRock Back in Shape

The leading US issuer by asset under management (AUM), BlackRock, maintained its recently impressive form, recording  $526.7 million in inflows on Monday. BlackRock’s IBIT has gone 11 days with positive flow, taking its net asset to $22.72 billion.

Fidelity’s FBTC  recorded a positive outing on Monday, recording a single-day net inflow of $23.7 million. The asset manager’s persistent inflows have seen it draw closer to Grayscale’s net asset value. Grayscale’s GBTC saw zero flow on Monday, its first since July 3.

Invesco and Franklin Templeton saw net inflows of $13.65 million and $7.87 million, respectively, while Bitwise and VanEck recorded outflows of $47.65 million and $7.87 million, respectively. Other asset managers, including Ark Invest and Valkyrie, recorded zero flows.

Since its launch in January, the US Bitcoin spot ETF has accumulated over 910,000 BTC and accounts for almost 5% of Bitcoin’s market cap. The fund has a cumulative net inflow of $17.54 billion.

Bitcoin was at $66,572 at press time, down almost 2% in the past 24 hours. The asset has a market cap of $1.3 trillion.