Data from Farside Investors revealed that US spot Bitcoin ETFs experienced their highest net inflows in a month, with $143.1 million pouring in on July 5. This influx followed a dip in Bitcoin’s price below $54,000, signaling that investors viewed the lower prices as a prime buying opportunity.
Despite recent market volatility, the substantial inflows into these ETFs suggest that institutional investors and large-scale buyers are taking advantage of the dip to accumulate more BTC at reduced prices.
Leading the inflow was the Fidelity Wise Origin Bitcoin Fund (FBTC), which attracted $117 million. The Bitwise Bitcoin ETF (BITB) followed with net inflows of $30.2 million. Additionally, the ARK 21Shares Bitcoin ETF (ARKB) and the VanEck Bitcoin Trust (HODL) recorded inflows of $11.3 million and $12.8 million, respectively. Conversely, the Grayscale Bitcoin Trust (GBTC) experienced a net outflow of $28.6 million.
Hunter Horsley, CEO of Bitwise Asset Management, emphasized his team’s efficiency in acquiring Bitcoin at a cost of less than half a basis point. He noted the strong outlook for Bitcoin, describing the current market conditions as an advantageous buying opportunity for both new and existing investors. “The outlook for Bitcoin has never been stronger. For many who don’t yet have exposure, this week is a chance to buy the dip,” Horsley stated. During the first week of July, the Bitwise Bitcoin ETF (BITB) registered inflows exceeding $66 million, boosting its total Bitcoin holdings to over 38,000 BTC.
The recent dip in Bitcoin’s price, which fell to a five-month low of $53,905, was influenced by several factors, including the German government’s BTC liquidations and the reimbursement of Bitcoin from the collapsed crypto exchange Mt. Gox. The exchange transferred 47,229 Bitcoin, worth approximately $2.71 billion at current prices, to a new wallet address in its first significant transaction since May.
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