Inflows into Spot Bitcoin ETFs Reach Six-Week High
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The exchange-traded funds in the US that closely follow Bitcoin’s spot price have seen a surge in investor demand.
On Tuesday, these 11 funds collectively received a net inflow of $422.5 million, the highest amount since June 5, continuing their winning streak for the seventh consecutive day.
Data from Farside Investors shows that BlackRock’s IBIT had the biggest share of inflows, pulling in over $260 million. Other funds, except for GBTC, DEFI, and BTCW, received less than $30 million each.
In the past three days alone, these funds have attracted more than $1 billion, revealing investors’ optimistic outlook for Bitcoin’s price. Since hitting a low near $53,500 on July 5, BTC has seen a 23% increase to reach $65,800.
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