{"id":83254,"date":"2024-07-02T09:38:18","date_gmt":"2024-07-02T13:38:18","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=83254"},"modified":"2024-07-02T09:38:22","modified_gmt":"2024-07-02T13:38:22","slug":"bitcoin-etf-records-5-consecutive-days-of-inflows","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitcoin-etf-records-5-consecutive-days-of-inflows\/","title":{"rendered":"Bitcoin ETF Records 5 Consecutive Days of Inflows"},"content":{"rendered":"\n

On July 1, US spot Bitcoin exchange-traded funds <\/a>(ETFs) experienced substantial daily inflows of $129.45 million, marking the fifth consecutive day of positive flows.<\/p>\n\n\n\n

\"Bitcoin
Bitcoin ETF Records 5 Consecutive Days of Inflows <\/figcaption><\/figure>\n\n\n\n

The U.S. government approved Spot Bitcoin ETFs on January 10, and they commenced trading the following day. Unlike the Grayscale Bitcoin Trust (GBTC), which has experienced significant inflows and outflows since its conversion to an ETF, prominent ETF issuers experienced some of the highest inflows and trading volumes in the initial months.<\/p>\n\n\n\n

This is the most significant figure since June 7, as well as the $129.45 million inflows on July 1. The BTC price regained $63,000 after nearly three weeks of struggling to surpass the critical resistance level of $62,000 as inflows turned positive.<\/p>\n\n\n\n

According to data from the crypto research platform SoSo Value, the Bitwise Bitcoin ETF \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>received 650 BTC worth $41 million, while Fidelity's Wise Origin Bitcoin Fund received 1,030 BTC worth $65 million.<\/p>\n\n\n\n

BlackRock's iShares Bitcoin Trust and GBTC, the two largest spot Bitcoin ETFs by net asset value, experienced negative flows on Monday, June 1, while the ARK 21Shares Bitcoin ETF received inflows of 205 BTC valued at $13 million.<\/p>\n\n\n\n

After nearly seven days of outflows in the final week of June, spot BTC ETFs experienced positive inflows for the fifth consecutive day on July 1.<\/p>\n\n\n\n

\"Spot
Spot BTC ETF daily flows. Source: SoSoValue<\/em><\/figcaption><\/figure>\n\n\n\n

July – A positive Month for Bitcoin Historically<\/h2>\n\n\n\n

The Bitcoin ETFs and the BTC price experienced a dismal month in June. During the month, the value of outflows was substantially higher than that of inflows, with nine days of outflows and ten days of inflows recorded by Spot Bitcoin ETFs.<\/p>\n\n\n\n

The most recent bullish rally in the spot BTC ETF was concurrent with the BTC price advance on Monday, which resulted in a new weekly high of $63,778.<\/p>\n\n\n\n

Nevertheless, Bitcoin's value plummeted below $63,000 once more in the early hours of June 2, and it is currently trading at $62,558 at the time of this writing. Although the price of Bitcoin (BTC) has rebounded from its weekly low of $60,000, it remains over 15% below its all-time high of $73,750 in March.<\/p>\n\n\n\n

Historically, July has been a bullish month for Bitcoin. With the approval of spot Ether ETFs imminent, the crypto market <\/a>may experience an additional bullish surge in the upcoming weeks.<\/p>\n","protected":false},"excerpt":{"rendered":"

On July 1, US spot Bitcoin exchange-traded funds (ETFs) experienced substantial daily inflows of $129.45 million, marking the fifth consecutive day of positive flows. The U.S. government approved Spot Bitcoin ETFs on January 10, and they commenced trading the following day. Unlike the Grayscale Bitcoin Trust (GBTC), which has experienced significant inflows and outflows since […]<\/p>\n","protected":false},"author":1,"featured_media":67534,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[1613,18740,20338],"class_list":["post-83254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin-etf","tag-bitcoin-etf-inflows","tag-bitwise-bitcoin-etf"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/12\/image-86.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=83254"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83254\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/67534"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=83254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=83254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=83254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}