A total of 11 spot Bitcoin ETFs traded in the U.S. maintained a positive inflow trend for the fifth consecutive day. The largest inflow of the day was recorded by BlackRock’s iShares Bitcoin Trust (IBIT), with $34.4 million. It was followed by Bitwise’s BITB product with $12.7 million. The data indicates that investor interest in Bitcoin remains strong despite market volatility.

Meanwhile, Ethereum also showed notable momentum. On July 30, spot Ethereum ETFs saw a total net inflow of $5.8 million. This marks the 19th consecutive day of net inflows into Ethereum ETFs. BlackRock’s ETHA fund led the day with approximately $20 million in inflows, while Grayscale’s ETHE followed with $7.8 million. However, Fidelity’s FETH recorded a notable $22.3 million outflow on the same day.

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What Do the Numbers Indicate?

Spot ETF products allow investors to gain exposure to Bitcoin and Ethereum without directly purchasing crypto assets, within a regulated structure. The capital inflows into these products are considered a sign of market confidence, especially from institutional investors.

Experts suggest that the ongoing inflows into Bitcoin ETFs reflect a resurgence in institutional demand, driven by expectations of interest rate cuts and reduced regulatory uncertainty. On the Ethereum side, rising ETF inflows, increased staking, and higher on-chain activity helped the asset gain over 50% in value throughout July.

Rising ETF inflows throughout July have contributed significantly to the overall market recovery. Ethereum ETFs alone saw a record $5.41 billion in net inflows in just one month—surpassing the combined total of the previous 11 months. Since the approval of spot ETFs by the SEC, Ethereum has significantly increased its potential to attract institutional interest. Analysts expect this momentum to continue in the coming months.

What Do Experts Say?

Financial analyst Darren Lee commented on the matter, saying, “The July data shows that crypto ETFs are now being recognized as legitimate investment instruments not only by individuals but also by large institutional players. If this trend continues, we could see new mid-term highs for both Bitcoin and Ethereum.”

Market observers anticipate that ETF inflows will continue to trend positively in August as well. Upcoming monetary policy decisions by the Federal Reserve and expected new regulatory signals from the SEC are expected to shape this trajectory.

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GBTC had experienced billions of dollars in outflows after it began trading as an ETF in January, coinciding with the downturn in the cryptocurrency market and the approval of other Bitcoin ETFs.

During this period, the total amount of Bitcoin held in GBTC dropped from over 600,000 to around 290,000. One of the main reasons for this was GBTC’s higher management fee compared to other funds.

Promising Development

This net inflow into GBTC can be interpreted as a renewed interest in Bitcoin. The fund’s asset value has also been on an upward trend lately.

However, the future direction of Bitcoin’s price remains uncertain. Experts advise investors to follow the market closely and consider their risks.

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