Amidst a downtrend in the cryptocurrency market, Bitcoin ETFs have experienced a noteworthy surge, as reported by the esteemed blockchain analytics firm SpotOnChain. On July 5, the cumulative net inflows for Bitcoin ETFs soared past the $143 million mark. SpotOnChain shared these insights via their official X channel, shedding light on the day’s financial dynamics.
**$BTC #ETF Net Inflow July 5, 2024: +$143M!**
– The **10 US Bitcoin ETFs** welcomed a net inflow of **$238M**, with positive inflows recorded on half of the trading days this week, even as the $BTC value saw a 7% decline.
– The sole exception was **#Grayscale (GBTC)**, which experienced an outflow the previous day.
– **#BlackRock (IBIT)** reported a significant net flow…
— Spot On Chain (@spotonchain) July 6, 2024
**SpotOnChain Highlights $143M Net Inflow for Bitcoin ETFs on July 5**
In a recent update, SpotOnChain emphasized that despite Bitcoin’s substantial price drop, the robust inflows reflect a strong investor sentiment. The analytics entity also reviewed the week’s performance of Bitcoin ETFs.
It was observed that the prominent ten BTC ETFs in the US amassed $238M in inflows. Despite the leading digital currency’s 7% price slump, the ETF market demonstrated resilience and growth.
**Individual Bitcoin ETF Inflows Detailed by SpotOnChain**
The Fidelity Bitcoin ETF emerged as the frontrunner with a remarkable daily inflow of $117.4M, according to SpotOnChain’s analysis. On July 5th, Grayscale (GBTC) was the only ETF to report outflows. Meanwhile, several funds including BTCW, EZBC, BTCO, BRRR, and IBIT, did not record any inflows or outflows. Conversely, HODL, BITB, ARKB, and FBTC achieved net inflows of $12.9M, $30.2M, $11.3M, and $117.4M, respectively.