Between July 15 and July 19, 2024, the total net inflow for spot Bitcoin ETFs reached a substantial $17.08 billion.

FBTC Registers Largest Inflow

On July 19, spot Bitcoin (BTC) ETFs recorded inflows of $383.6 million, the second highest of the month, following a significant inflow of $422.9 million on July 16.

The Fidelity Wise Origin Bitcoin Fund (FBTC) and BlackRock’s iShares Bitcoin Trust (IBIT) continued to lead, bringing in $141 million and $116.2 million respectively, according to data from SoSoValue.

Spot Bitcoin ETF flows for July 19 | Source: SoSoValue

Across the board, Bitcoin ETFs like the Bitwise Bitcoin ETF (BITB) and the VanEck Bitcoin Trust ETF (HODL) saw smaller yet significant inflows, reinforcing the trend of increasing investor interest.

Bitwise’s BITB had the third-highest inflow at $44.6 million, closely followed by VanEck’s HODL, which contributed $41.8 million to the day’s total.

Grayscale’s GBTC bucked a run of consecutive negative flows to bring in $20.3 million and maintained its market presence with $18.29 billion in net assets.

Elsewhere, the Coinshares Valkyrie Bitcoin Fund ETF (BRRR) and Invesco’s BTCO managed $7.6 million and $6.4 million respectively.

While ARK’s AKB posted no action, Franklin Templeton’s EZBC and WisdomTree’s BTCW closed out the day’s trading with $3.9 million and $1.8 million in inflows respectively.

Good Week for Spot Bitcoin ETFs

Overall, throughout the week, the spot Bitcoin ETF market hit a six-week high in inflows, driven by renewed investor confidence and market optimism. Data highlighted the influx, especially the $422.5 million in inflows by July 16.

Despite midweek correction fears, when ETF inflows plunged 87%, the overall sentiment remained positive.

Interestingly, the surge in spot BTC ETF uptake was mirrored by Bitcoin’s improving performance, which saw a 5% uptick in the last 24 hours and a 14.4% increase over the week.

Bitcoin 24-hour price chart | Source: CoinGecko

At the time of writing, Bitcoin was trading at $66,541, giving it a market capitalization of $1.3 trillion. While the current price is nearly 10% lower than the all-time high, it has still seen Bitcoin outperform the global crypto market, which is up by 10.50%.

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