Bitcoin ETF market saw a notable resurgence, with a net inflow of $143.1 million. This brought the cumulative net inflow to $14.76 billion
Author: Chirag Sharma
On July 5, the spot Bitcoin ETF market saw a notable resurgence, with a net inflow of $143.1 million. This brought the cumulative net inflow to $14.76 billion and $2.81 billion in total value traded, marking the highest inflow for the month after two days of continuous outflows.
The drop in Bitcoin (BTC) price from $58,159.05 on July 4 to $53,906.57 on July 5 spurred increased investment in the asset. Mt. Gox’s announcement of repayments in BTC and Bitcoin Cash to creditors caused investor panic, leading to high liquidity and a 6.90% drop in BTC over the past week. BTC was trading at $56,600 at the time of writing, with a 4.1% increase.
Fidelity Wise Origin Bitcoin Fund (FBTC) and Bitwise Bitcoin ETF (BITB) significantly boosted the spot Bitcoin ETF market. Despite not surpassing the all-time high net inflow of $1.05 billion recorded in March 2024, their contributions were substantial.
According to Coinglass, spot Bitcoin ETFs hold $3.21 billion in total volume, $50.87 billion in market cap, and $50.08 billion in assets under management. The recent surge in net inflows underscores growing investor confidence and a positive outlook for BTC.
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