BlackRock’s iShares Bitcoin Trust (IBIT) now holds over $18 billion in Bitcoin (BTC) as inflows continue into its ETFs.

According to data provided by Farside Investors, spot BTC ETFs saw $216.4 million in inflows on Tuesday, marking the third consecutive day of positive inflows. The total inflows currently stand at $15.2 billion.

Data indicates that the IBIT ETF experienced $121 million in inflows on July 9, pushing its total market cap to $18.04 billion. Notably, BlackRock’s spot BTC ETF had only one day of net outflows on May 1, amounting to $36.9 million.

On the other hand, Grayscale Bitcoin Trust (GBTC) recorded $37.5 million in net outflows. The investment product saw $25.1 million in inflows on July 8, coinciding with a market-wide bullish trend.

Bitcoin price shrugs Germany’s $362m exchange deposit

The GBTC ETF has experienced over $18.6 billion in net outflows since its launch in the U.S. Similarly, Bitwise Bitcoin ETF (BITB) witnessed $4.7 million in outflows.

Other notable ETFs include Fidelity Wise Origin Bitcoin Fund (FBTC), ARK 21Shares Bitcoin ETF (ARKB), and VanEck Bitcoin Trust (HODL), which recorded $91 million, $43.3 million, and $3.3 million in net inflows, respectively.

Although yesterday’s inflows were smaller than Monday’s $295 million, they helped maintain the bullish momentum in the cryptocurrency market.

As a result, Bitcoin reached an intraday high of $59,400 for the first time in a week. The leading cryptocurrency is trading at $59,200 at the time of writing.

Stay updated with the latest news on Global Crypto News.

Post Views: 4