{"id":24524,"date":"2024-07-08T20:00:48","date_gmt":"2024-07-08T17:00:48","guid":{"rendered":"https:\/\/coinengineer.io\/?p=24524"},"modified":"2024-07-08T09:49:40","modified_gmt":"2024-07-08T06:49:40","slug":"bitcoin-etfs-see-143m-inflows-despite-price-drop","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-etfs-see-143m-inflows-despite-price-drop\/","title":{"rendered":"Bitcoin ETFs See $143M Inflows Despite Price Drop"},"content":{"rendered":"

Though bitcoin’s price<\/strong> dropped from its peak above $73,000 in March to as low as $54,000 in recent days, down almost 25%, spot bitcoin ETFs<\/strong> saw their best day of inflows for a month on July 5, gaining $143 million overall.<\/p>\n

With almost 80% of the four out of the eleven largest bitcoin ETFs<\/strong>‘ inflows coming to Fidelity’s FBTC fund, their total value at present prices comes to almost $172 million.<\/p>\n

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.<\/p>\n

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.<\/p>\n

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)<\/strong> 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<\/strong>.<\/p>\n

“The future of Bitcoin<\/strong> looks to be really bright. This week is a chance for people who lack exposure to purchase the dip,”<\/em> Bitwise CEO Hunter Horsley said on X.<\/a><\/p>\n

 <\/p>\n

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 Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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<\/p>\n","protected":false},"author":6,"featured_media":18085,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[61,534,5319],"class_list":["post-24524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-etf","tag-blackrocks-ishares-bitcoin-trust"],"yoast_head":"\nBitcoin ETFs See $143M Inflows Despite Price Drop - 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\/bitcoin-etfs-see-143m-inflows-despite-price-drop\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin ETFs See $143M Inflows Despite Price Drop - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"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. 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