{"id":24493,"date":"2024-07-06T14:30:16","date_gmt":"2024-07-06T11:30:16","guid":{"rendered":"https:\/\/coinengineer.io\/?p=24493"},"modified":"2024-07-06T12:06:09","modified_gmt":"2024-07-06T09:06:09","slug":"spot-bitcoin-etfs-see-major-inflows-despite-market-drop-following-independence-day","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/spot-bitcoin-etfs-see-major-inflows-despite-market-drop-following-independence-day\/","title":{"rendered":"Spot Bitcoin ETFs See Major Inflows Despite Market Drop Following Independence Day"},"content":{"rendered":"<p>Following the recent US Independence Day, <strong>Spot Bitcoin ETFs<\/strong> saw a spike in inflows on July 6; <strong>Bitcoin<\/strong>&#8216;s price fell below $54,000 at that point. With an amazing $143.1 million pouring into these financial instruments, <strong>Farside<\/strong> monitoring indicates that this is their highest net influx in a month.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/spot-bitcoin-etfs-see-major-inflows-despite-market-drop-following-independence-day\/#Surge_in_Inflows_and_Investor_Confidence\" title=\"Surge in Inflows and Investor Confidence\">Surge in Inflows and Investor Confidence<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/spot-bitcoin-etfs-see-major-inflows-despite-market-drop-following-independence-day\/#Market_Outlook_and_Predictions\" title=\"Market Outlook and Predictions\">Market Outlook and Predictions<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Surge_in_Inflows_and_Investor_Confidence\"><\/span>Surge in Inflows and Investor Confidence<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Leading with an amazing $117 million, <strong>the Fidelity Bitcoin ETF (FBTC)<\/strong> demonstrated great investor trust in the fund. While the ARKB and HODL ETFs experienced inflows of $11.3 million and $12.8 million respectively, t<strong>he Bitwise Bitcoin ETF (BITB)<\/strong> reported a net inflow of $30.2 million after Facebook TCV.\u00a0 However, different from other spot Bitcoin ETFs,<strong> the Grayscale Bitcoin Trust (GBTC)<\/strong> recorded a net outflow of $28.6 million, thus standing out as the only one that pointed in the opposite direction to the rest others.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-24494 aligncenter\" src=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/farside.webp\" alt=\"etf\" width=\"661\" height=\"878\" srcset=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/farside.webp 661w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/farside-226x300.webp 226w\" sizes=\"auto, (max-width: 661px) 100vw, 661px\" \/><\/p>\n<p>The high levels of flows into these ETFs show that information-based institutions and wholesale buyers are already using this volatility to buy their bitcoins at lower prices. Hunter Horsley, CEO of Bitwise Asset Management, underlined in a post on X social network his team&#8217;s effectiveness in purchasing Bitcoin, able to do so at a cost less than half a basis point.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Outlook_and_Predictions\"><\/span>Market Outlook and Predictions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Horsley<\/strong> also underlined the positive view of Bitcoin, implying that the present state of the market offers a good purchase possibility for both new and established investors. &#8220;The future of Bitcoin seems to be much better. For those who lack exposure yet, this week is an opportunity to purchase the decline. BITB reported inflows over $66 million during the first week of July, therefore raising its overall Bitcoin holdings to around 38,000. Such increase demonstrates that people are still confident in BItcoin\u2019s long-term value for use despite short term volatility.<\/p>\n<p>Prominent Bitcoin skeptic <strong>Peter Schiff<\/strong> also offered his take on the \u2018strength\u2019 of the Bitcoin ETF holders. Schiff stated that these investor have not shown fear of the market flucuations; these investors are determined to keep their invested funds.\u00a0&#8220;<em>So yet, terror does not show itself. Before they eventually give up, it will probably require a much more significant decline in Bitcoin&#8221;<\/em>\u00a0<strong>Schiff<\/strong> said. He also foresaw a big sell-off not too far off, maybe resulting in a surrender among Bitcoin investors.<\/p>\n<p>Following the failed Japanese cryptocurrency exchange Mt. Gox moving 47,229 Bitcoin\u2014worth $2.71 billion at current prices\u2014worth to a new wallet address in its first significant transaction since May, Bitcoin dropped to $55,200 on Coinbase.<\/p>\n<p><i><span style=\"font-weight: 400\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <\/span><\/i><a href=\"https:\/\/t.me\/coinengineernews\"><i><span style=\"font-weight: 400\">Telegram, <\/span><\/i><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\"><i><span style=\"font-weight: 400\">YouTube<\/span><\/i><\/a><i><span style=\"font-weight: 400\">, and <\/span><\/i><a href=\"https:\/\/twitter.com\/coinengineers\"><i><span style=\"font-weight: 400\">Twitter<\/span><\/i><\/a><i><span style=\"font-weight: 400\"> channels for the latest <\/span><\/i><a href=\"https:\/\/coinengineer.net\/blog\/news\/\"><i><span style=\"font-weight: 400\">news<\/span><\/i><\/a><i><span style=\"font-weight: 400\"> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following the recent US Independence Day, Spot Bitcoin ETFs saw a spike in inflows on July 6; Bitcoin&#8216;s price fell below $54,000 at that point. With an amazing $143.1 million pouring into these financial instruments, Farside monitoring indicates that this is their highest net influx in a month. Surge in Inflows and Investor Confidence Leading<\/p>\n","protected":false},"author":6,"featured_media":8826,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[61,3695],"class_list":["post-24493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-genel","tag-bitcoin","tag-spot-bitcoin-etfs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Spot Bitcoin ETFs See Major Inflows Despite Market Drop Following Independence Day - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/spot-bitcoin-etfs-see-major-inflows-despite-market-drop-following-independence-day\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spot Bitcoin ETFs See Major Inflows Despite Market Drop Following Independence Day - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Following the recent US Independence Day, Spot Bitcoin ETFs saw a spike in inflows on July 6; Bitcoin&#8216;s price fell below $54,000 at that point. With an amazing $143.1 million pouring into these financial instruments, Farside monitoring indicates that this is their highest net influx in a month. 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