On July 19, $383.6 million was added to spot Bitcoin (BTC) ETFs. New money came in on this day more than any other in the month. This comes after a record-breaking $422.9 million was brought in on July 16. SoSoValue knows that the Fidelity Wise Origin Bitcoin Fund (FBTC) and BlackRock’s iShares Bitcoin Trust (IBIT) made the most money, with $141 million and $116.2 million, respectively.
A lot of money came into other Bitcoin ETFs as well. Both the Bitwise Bitcoin ETF (BITB) and the VanEck Bitcoin Trust ETF (HODL) saw a lot of movement. BITB took in $44.6 million, and HODL added $41.8 million to the day’s total.
GBTC Reverses Negative Flows
Grayscale’s GBTC had been losing money for a while, but it was able to turn things around, bringing in $20.3 million and keeping its market presence with $18.29 billion in net assets. In other places, $7.6 million came into the Coinshares Valkyrie Bitcoin Fund ETF (BRRR) and $6.4 million came into Invesco’s BTCO. ARK’s AKB had no action, but Franklin Templeton’s EZBC and WisdomTree’s BTCW both had $3.9 million and $1.8 million come in at the end of the day.
The spot Bitcoin ETF market had the most new money come in in six weeks this week, based on how it did. This was because buyers had faith in the market again and were optimistic. Some numbers from Farside Investors and SoSoValue, like the huge $422.5 million released on July 16, showed the influx.
People were still mostly positive, even though there were fears about a market correction in the middle of the week. This is why ETF entries dropped 87% soon after the day that set a new record. It was also getting better for Bitcoin at the same time that spot BTC ETFs were going up. BTC’s value has grown by 5% in the past 24 hours and by 14.4% in the last week.
At the time this was written, one Bitcoin was worth $66,541. This meant that the whole market was worth $1.3 trillion. That being said, CoinGecko says that Bitcoin has done better than the global crypto market, which is up 10.50%, even though this price is almost 10% less than its all-time high.
