Key Highlights
- BlackRock’s IBIT led U.S. spot Bitcoin ETFs with $209.4 million in inflows, helping total daily ETF inflows reach $265.7 million.
- Bitcoin ETFs recorded their second straight day of positive inflows, showing renewed investor demand after weeks of weak fund flows.
- Bitcoin remained the top choice for investors, attracting about nine times more money than Ethereum ETFs during the trading session.
BlackRock’s iShares Bitcoin Trust (IBIT) has led a strong comeback in U.S. spot Bitcoin exchange-traded funds (ETFs), attracting about $209.4 million in new inflows on July 6.
According to data from SoSoValue, these new inflows pushed total net inflows across all U.S. spot Bitcoin ETFs to $265.7 million for the day, following weeks of weak or negative fund flows. IBIT accounted for the majority of the day’s inflows, attracting more than half of all capital invested in U.S. spot Bitcoin ETFs.
The session also marked the second consecutive day of positive inflows for the sector, suggesting renewed investor demand after a slowdown in late June and early July.
Other ETFs join the rebound
Other spot Bitcoin ETFs also recorded positive inflows. Fidelity’s FBTC added $9.7 million, while Bitwise’s BITB recorded $4.8 million in inflows. ARK 21Shares’ ARKB attracted $33 million, and Grayscale’s Mini Bitcoin ETF gained $42.3 million.
However, not all funds ended the day higher. Grayscale’s GBTC posted net outflows of $44.5 million as investors continued withdrawing capital from the fund.
Spot Bitcoin ETFs provide investors with exposure to Bitcoin without requiring them to buy or custody the cryptocurrency directly. As a result, strong inflows often lead ETF issuers to purchase additional Bitcoin to meet investor demand, making fund flows a closely watched market indicator.
Bitcoin sees more trading activity
Bitcoin also posted stronger market activity this week. As of the time of writing, the asset was trading at $63,517, up 1.82% from an intraday low of $61,275.
At the same time, trading activity increased by 8.72% to about $33.52 billion in volume. The market cap has also increased by 1.82% to $1.27 trillion in value.
In short, more investors are actively buying and selling Bitcoin as interest in the market picks up again.
IBIT stays ahead of the competition
The renewed inflows came even after reports that Michael Saylor’s Strategy sold approximately $216 million worth of Bitcoin.
BlackRock has been leading the U.S. spot Bitcoin ETF market since launching IBIT in early 2024. The fund now manages around $46.5 billion in net assets and has attracted more than $60 billion in cumulative net inflows, making it the largest and most influential spot Bitcoin ETF in the United States.
Ethereum ETFs also see inflows
Meanwhile, Ethereum investment funds also recorded a positive day. U.S. spot Ethereum ETFs brought in about $29.1 million in net inflows, with BlackRock’s iShares Ethereum Trust (ETHA) leading the group, according to Farside.
Despite the positive session for Ethereum funds, Bitcoin remained the preferred choice among investors, attracting roughly nine times more capital than spot Ethereum ETFs during the same trading session.
Also Read: Michael Saylor’s Bitcoin Sell-off Continues — On-Chain Data Flags Another 513 BTC Transfer
