Bitcoin ETFs have recently made another significant move despite the overall bearish momentum. The popular on-chain analytics company SpotOnChain has revealed that the overall net inflows of Bitcoin ETFs have reached above $143 million in terms of value on July 5. The platform took to its official X account to disclose the particular statistics in this respect.
🚨 $BTC #ETF Net Inflow July 5, 2024: +$143M!• The 10 US Bitcoin ETFs received a net inflow of $238M with inflows on 2 out of 4 trading days this week, despite the $BTC price dropping 7%.• Only #Grayscale (GBTC) saw an outflow yesterday.• #BlackRock (IBIT) had a net flow… pic.twitter.com/27gGIVOLDr
— Spot On Chain (@spotonchain) July 6, 2024
Bitcoin ETFs Secure $143M in Net Inflow on July 5
SpotOnChain noted in its recent X post that this development plays the role of a very positive move. While the price of the chief cryptocurrency has gone through a huge decline, these inflows indicate investor confidence. In addition to this, the analytics firm also pointed out the performance of the Bitcoin exchange-traded funds throughout this week.
According to it, the well-known ten BTC ETFs in the United States saw $238M in inflows during this period. However, it also brought to the front that the top crypto asset experienced a dip of more than seven percent in the meantime. Nonetheless, the ETF sector is making good progress in this respect. SpotOnChain also mentioned the individual inflow of the BTC ETFs in its post.
Fidelity Bitcoin ETF Sees Tops the List with $117.4 in Daily Inflow
As per the on-chain analytics platform, just one ETF named Grayscale (GBTC) recorded outflows on the 5th of July. Nonetheless, some exchange-traded funds also witnessed $0 flows. These ETFs take into account BTCW, EZBC, BTCO, BRRR, and IBIT. On the other hand, HODL, BITB, ARKB, and FBTC secured, $12.9M, $30.2M, $11.3M, and $117.4M in net inflows respectively.
