Deniz 
Though bitcoin’s price dropped from its peak above $73,000 in March to as low as $54,000 in recent days, down almost 25%, spot bitcoin ETFs saw their best day of inflows for a month on July 5, gaining $143 million overall.
With almost 80% of the four out of the eleven largest bitcoin ETFs‘ inflows coming to Fidelity’s FBTC fund, their total value at present prices comes to almost $172 million.
While Grayscale’s GBTC witnessed 500 BTC of outflow, worth roughly $29 million, the ETF offerings from Bitwise (BITB), Ark 21Shares (ARKB), and VanEck (HODL) attracted the remainder of the inflows, according to Coinglass statistics. The other ETFs changed not much.
Although early June saw major inflows to the ETFs, with $1.7 billion in inflows over just four days, June 4 to June 7, the net inflow figure is the largest single-day total since June 6. Though June 10, the following trading day, witnessed $65 million in outflows from the funds, June 7 represented a record-breaking 18-day streak of net inflows.
Though BlackRock’s fund saw no significant inflows or withdrawals on July 5, The Block’s Data Dashboard shows BlackRock’s iShares Bitcoin Trust (IBIT) still ranks highest among ETFs with over $17 billion in AUM. Notwithstanding the Mt. Goxin sell-off, the ETF inflows could show some consumer optimism regarding the price of bitcoin.
“The future of Bitcoin looks to be really bright. This week is a chance for people who lack exposure to purchase the dip,” Bitwise CEO Hunter Horsley said on X.
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