Spot Bitcoin ETFs Extend Inflow Streak to 8 Days

Spot Bitcoin exchange-traded funds (ETFs) have continued their positive flow streak, taking it to eight straight days of net inflow. According to data from SoSoValue, the Bitcoin investment products raked in a staggering $423 million net inflow on Tuesday, July 16, 2024.

This marks the highest single-day inflow seen by the 11 Bitcoin ETFs since June 5. Over the past three days alone, they have received over $1 billion in net inflows. With the latest flow, the Bitcoin investment products now have a historical cumulative net inflow of $16.5 billion and a net asset value (NAV) of $58.46 billion.

Inflow Data for July 16

BlackRock iShares Bitcoin Trust (IBIT) led the pack on Tuesday with a net inflow of $260 million — taking its historical net inflow to $18.64 billion. Following IBIT is Fidelity Wise Origin Bitcoin Fund (FBTC) with an inflow of $61.05 million, 21Shares Bitcoin ETF (ARKB) with $29.85 million, VanEck Bitcoin Trust (HODL) with $22.04 million, Invesco/Galaxy (BTCO) with $20.54 million, Bitwise Bitcoin ETF (BITB) with $17.34 million, Franklin Bitcoin ETF (EZBC) with $9.42 million, and Valkyrie Bitcoin Fund (BRRR) with $2.21 million.

Grayscale Bitcoin Trust ETF (GBTC), WisdomTree Bitcoin Fund (BTCW), and Hashdex Bitcoin ETF (DEFI) all recorded zero flows on Thursday.

Bitcoin Recovers 

Thanks to these consistent inflows, bitcoin is recovering most of the losses triggered by a massive sell-off by the German government and repayment efforts from Mt. Gox. The price of BTC, which fell to nearly $53,500 on July 5, has now recovered by 23% to hit as high as $65,800 earlier on Tuesday. 

At the time of filing this report, the original cryptocurrency was trading at $65,558, representing a 3.7% surge over the past 24 hours.