Bitcoin Spot ETFs Saw $143M in Inflows, Highest in a Month

Data from Farside Investors revealed that US spot Bitcoin ETFs experienced their highest net inflows in a month, with $143.1 million pouring in on July 6. This influx occurred after Bitcoin's price dipped below $54,000, indicating that investors saw the lower prices as a prime buying opportunity.

Despite recent market volatility, the significant inflows into these ETFs suggest that institutional investors and large-scale buyers are capitalizing on the dip in Bitcoin's price to accumulate more BTC at reduced prices.

Leading the pack was the Fidelity Wise Origin Bitcoin Fund (FBTC), which attracted $117 million. The Bitwise Bitcoin ETF (BITB) followed with net inflows of $30.2 million. Additionally, the ARK 21Shares Bitcoin ETF (ARKB) and the VanEck Bitcoin Trust (HODL) recorded inflows of $11.3 million and $12.8 million, respectively. Conversely, the Grayscale Bitcoin Trust (GBTC) experienced a net outflow of $28.6 million.

. For many who don’t yet have exposure, this week is a chance to buy the dip," Horsley stated. During the first week of July, the Bitwise Bitcoin ETF (BITB) registered inflows exceeding $66 million, boosting its total Bitcoin holdings to over 38,000 BTC.

The recent dip in Bitcoin's price, which fell to a five-month low of $53,905, was influenced by a few factors, such as the German government's BTC liquidations, and reimbursement of Bitcoin from collapsed crypto exchange Mt. Gox. The exchange transferred 47,229 Bitcoin, worth approximately $2.71 billion at current prices, to a new wallet address in its first significant transaction since May.👇👇👇👇

https://www.binance.com/en/support/announcement/binance-p2p-adds-new-requirements-to-posting-advertisements-3c7b87a346e34063b40c60e5fd5558b2?hl=en&utm_source=new_share&ref=CPA_001MI37RBH