Spot Bitcoin (BTC) ETFs in the U.S. See Fifth Consecutive Day of Inflows

Spot Bitcoin (BTC) ETFs in the U.S. recorded their fifth consecutive day of inflows on July 11, with $72.1 million in net inflows as Bitcoin surpassed the $59,000 mark.

U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) saw their fifth consecutive day of inflows on July 11, with $72.1 million in net inflows as BTC price surpassed the $59,000 level.

According to data fromܞ Farside Investors, the investment products recorded $72.1 million in net positive flows on July 11. This follows a positive week that began with $143.1 million in capital inflows on July 5.

Leading the pack was BlackRock’s IBIT, which captured $72.1 million in inflows, pushing its total to an extraordinary $18.1 billion. Following next was Fidelity’s FBTC, which garnered $32.7 million, elevating its cumulative inflows to $9.6 billion.

Bitwise’s BITB and ARK’s ARKB also reported increases, with inflows of $7.5 million and $4.3 million, respectively, thereby enhancing their total inflows to $2.1 billion and $2.5 billion.

On the other hand, Grayscale’s GBTC saw a withdrawal of $37.7 million, marking its total outflows at $18.7 billion, despite a brief inflow spike on July 8.

Other notable funds, such as Invesco Galaxy’s BTCO, Franklin Templeton’s EZBC, Valkyrie Bitcoin’s BRRR, VanEck’s HODL, and WisdomTree’s BTCW, saw no significant changes in their flow activities.

Nevertheless, the overall landscape for Bitcoin ETFs remained robust, with cumulative inflows standing at $15.5 billion, according to Farside Investors’ data.

This influx into Bitcoin ETFs coincided with encouraging economic indicators, as inflation rates in the U.S. continued to show signs of slowing down for the fourth consecutive month.

June notably saw a 0.1% reduction in inflation, the first monthly decrease since May 2020, signaling progress in the Federal Reserve’s efforts to manage inflationary pressures.

At the same time, BTC price had rebounded from a four-month low, exceeding the $59,000 mark on July 11, currently an increase of 3.4% over the past week.

Despite potential supply pressures from the distribution of assets by Mt. Gox creditors and the sale of seized Bitcoin by the German Government, the influx of capital into Bitcoin ETFs has helped stabilize the cryptocurrency’s price during this turbulent period.