US spot bitcoin ETFs report $130 million in net inflows, largest influx in three weeks
The spot bitcoin ETFs in the U.S. recorded a total daily net inflow of $129.45 million on Monday.The largest daily net inflow was seen in Fidelity’s FBTC.
The 11 U.S. spot bitcoin exchange-traded funds saw total daily net inflows of $129.45 million on Monday, reporting their fifth consecutive day of positive flows. Monday’s net inflows also marked the largest fund intake the ETFs have seen since June 7.
Fidelity’s FBTC led the inflows yesterday with $65 million, followed by Bitwise’s BITB, which recorded $41 million, according to data from SosoValue. Ark Invest and 21Shares’ ARKB reported net inflows of $13 million. Funds from Invesco and Galaxy Digital, VanEck and Franklin Templeton saw relatively minor inflows of around or under $5 million.
BlackRock’s IBIT and Grayscale’s GBTC, the two largest spot bitcoin ETFs in terms of net asset value, saw zero flows on Monday.
The 11 bitcoin funds saw about $1.36 billion in trading volume on Monday. The ETFs have accumulated a total net inflow of $14.65 billion since their January inception.
Meanwhile, the price of bitcoin dipped 0.3% in the past 24 hours to $63,094 at the time of publication, according to The Block’s bitcoin price page . Bitcoin has recovered from last week’s brief low point of under $60,000, but remains significantly lower than its price level of above $71,000 in early June.
QCP Capital analysts said in a Monday report that both bitcoin and ether tend to fare better in July due to the positive seasonality observed historically. Coinbase analysts also pointed to the positive seasonal trend in July.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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