- According to SoSoValue data, Bitcoin ETFs saw their greatest day of total net inflows on Friday since June 5; they gained more than $300 million.
- The amount is noteworthy because it represents six trading days in a row of positive inflows to bitcoin ETFs. Since the streak began on July 5, assets have added up to $1 billion, bringing the total net inflows to the highest level since the ETFs’ debut in January.
According to SoSoValue data, U.S.-based spot bitcoin exchange-traded funds have broken the previous record for cumulative total net inflows with $15.81 billion, following a six-day string of positive net inflows that started on July 5.
Over $1 billion more assets are under management at the funds now than there were at the start of the six-day run. The most successful day for net inflows since June 5 was Friday, the most recent trading day, when spot bitcoin ETFs recorded net inflows of $310 million.
BlackRock’s IBIT, the biggest spot bitcoin ETF by asset value, contributed $120 million on Friday, and was mostly responsible for the inflows. According to SoSoValue, the majority of the remaining inflows were made to Bitwise’s BITB, Grayscale’s GBTC, and Ark Invest’s ARKB funds. Fidelity’s FBTC came in second with $115 million in inflows.
The funds have had the biggest cumulative net total inflow of $15.81 billion to date, very barely beating the previous record of $15.69 billion set on June 7, 2024.
Even if the exchange-traded funds’ overall net asset value is currently less than its peak, the amount of net inflows is at an all-time high, which means that if bitcoin’s price recovers, that record may also be surpassed.
The cryptocurrency community is anxiously awaiting further updates on the spot Ethereum ETH +4.62% ETF front. Experts in the field have observed that following multiple exchanges with the SEC, the funds seem to be prepared for introduction this month.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
