{"id":83578,"date":"2024-07-06T01:49:11","date_gmt":"2024-07-06T05:49:11","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=83578"},"modified":"2024-07-06T01:49:56","modified_gmt":"2024-07-06T05:49:56","slug":"spot-bitcoin-etfs-gain-143-million-on-friday-institutions-buy-dips","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/spot-bitcoin-etfs-gain-143-million-on-friday-institutions-buy-dips\/","title":{"rendered":"Spot Bitcoin ETFs Gain $143 Million on\u00a0Friday, Institutions Buy Dips?"},"content":{"rendered":"\n

Bitcoin price correction offers ETF investors a great opportunity to buy dips. Bitwise<\/a> Bitcoin ETF BITB added 38,000 Bitcoins this week.<\/p>\n\n\n\n

\"Spot<\/figure>\n\n\n\n

Following the July 4 holiday, Bitcoin ETFs have experienced a significant rebound, which represents a major turnaround from the outflows that were observed earlier this week.<\/p>\n\n\n\n

This occurred as the Bitcoin price\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> plummeted to below $54,000 on the United States Independence Day.<\/p>\n\n\n\n

Bitcoin ETFs Buy the Dips<\/h2>\n\n\n\n

Despite the panic selling in the market, the recent inflows into spot Bitcoin ETFs indicate that strong hands and major participants have been accumulating the dips.<\/p>\n\n\n\n

The Grayscale Bitcoin ETF<\/a> GBTC experienced $28 million in outflows; however, other funds made up for it\u00a0by generating significant inflows.<\/p>\n\n\n\n

The Fidelity Bitcoin ETF FBTC witnessed $117 million in inflows on Friday, which constituted the majority of the overall inflows.<\/p>\n\n\n\n

Meanwhile, BITB, the Bitwise Bitcoin ETF, ranked second with $30 million in inflows.<\/p>\n\n\n\n

Hunter Horsley, CEO of Bitwise Asset Management, reported that his team was able to acquire Bitcoins at a cost of less than half a basis point in an expedient manner.<\/p>\n\n\n\n

BITB's total Bitcoin holdings surpassed 38,000 during the first week of July, as it recorded inflows exceeding $66 million.<\/p>\n\n\n\n

Horsley also highlighted the bullish outlook for Bitcoin, asserting that the current market decline presents a compelling buying opportunity for both new and existing investors.<\/p>\n\n\n\n

\u201cThe outlook for Bitcoin has never been stronger. For many who don\u2019t yet have exposure, this week is a chance to buy the dip,\u201d he noted.<\/p>\n\n\n\n

\n

~$30,000,000 inflows into $BITB<\/use><\/svg><\/span><\/a> today.

Bitwise PM team efficiently purchased Bitcoin at less than half of 1 basis point of cost.

Cumulatively this week $BITB<\/use><\/svg><\/span><\/a> had >$66,000,000 of inflows, and now holds over 38,000 Bitcoin for investors.

The outlook for Bitcoin has never been\u2026<\/p>— Hunter Horsley (@HHorsley) July 5, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

Peter Schiff Predicts Capitulation By ETF Holders<\/h2>\n\n\n\n

Peter Schiff, a renowned Bitcoin critic, has expressed his opinion on the current status of Bitcoin ETF investors, predicting that they will eventually capitulate despite the ongoing market turbulence.<\/p>\n\n\n\n

Schiff observed that trading activity suggests that BTC ETF <\/a>buyers continue to hold their assets, with no indications of panic at this time.<\/p>\n\n\n\n

\u201cSo far, there\u2019s no sign of panic. It will likely take a much larger drop in Bitcoin before they finally capitulate,\u201d Schiff commented.<\/p>\n\n\n\n

He also predicted that this capitulation could occur in the near future, possibly as early as next week, particularly if another substantial selloff occurs over the weekend.<\/p>\n\n\n\n

Schiff's comments underscore his ongoing skepticism regarding the stability and resilience of Bitcoin and its investors in the context of market fluctuations.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin price correction offers ETF investors a great opportunity to buy dips. Bitwise Bitcoin ETF BITB added 38,000 Bitcoins this week. Following the July 4 holiday, Bitcoin ETFs have experienced a significant rebound, which represents a major turnaround from the outflows that were observed earlier this week. This occurred as the Bitcoin price plummeted to […]<\/p>\n","protected":false},"author":56,"featured_media":77458,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,83],"tags":[1613,18740,17080,17840,8615],"class_list":["post-83578","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-bitcoin-news","tag-bitcoin-etf","tag-bitcoin-etf-inflows","tag-bitwise-2","tag-fidelity-bitcoin-etf","tag-spot-bitcoin-etf-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/04\/DTCC-Says-Bitcoin-Linked-ETFs-Offer-Zero-Loan-Collateral-Value.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83578","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\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=83578"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83578\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/77458"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=83578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=83578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=83578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}