Reasons for Record Inflows in Bitcoin ETFs

Analyzing the Record Inflows in Bitcoin ETFs

Based in the United States on July 6, spot Bitcoin ETFs saw a sharp increase in inflows after just a few days earlier on July 4, when the price of Bitcoin fell below $54,000. With $143.1 million coming in, the spot Bitcoin ETFs witnessed their biggest net inflows in a month, according to Farside Investors.

• With $117 million, the Fidelity Wise Origin Bitcoin Fund (FBTC) led the inflows.
• A $30.2 million net inflow was registered by the Bitwise Bitcoin ETF (BITB).
• There were inflows of $11.3 million and $12.8 million into the VanEck Bitcoin Trust (HODL) and ARK 21Shares Bitcoin ETF (ARKB), respectively.
• The Grayscale Bitcoin Trust (GBTC) saw a $28.6 million net outflow.

Hunter Horsley: Now is the Best Time to Buy Bitcoin

The significant inflows into the ETFs indicate that institutional investors and large-scale buyers are taking advantage of the decline in the price of Bitcoin to acquire BTC at lower costs, even in spite of the recent market volatility. The CEO of Bitwise Asset Management, Hunter Horsley, emphasized how effectively his group was able to obtain Bitcoin for less than half a basis point. Horsley also emphasized the positive outlook for Bitcoin, stating that both novice and seasoned investors would find a good chance to purchase at the current price points.

The outlook for Bitcoin has never been stronger. For many who don’t yet have exposure, this week is a chance to buy the dip,

Horsley

FAQ

For more up-to-date crypto news, you can follow Crypto Data Space.