The cryptocurrency market has seen a remarkable surge in activity, with Bitcoin exchange-traded funds (ETFs) logging over $300 million in net inflows and reaching a record level. This remarkable milestone comes after a six-day streak of positive inflows, showcasing the growing institutional interest and adoption of digital assets.
Bitcoin ETFs Set New Record for Cumulative Net Inflows
Following a six-day streak of positive net inflows that began on July 5, U.S.-based spot Bitcoin exchange-traded funds have set a new record for cumulative total net inflows, reaching $15.81 billion, according to SoSoValue data. The funds have added over $1 billion in assets under management since the beginning of this impressive streak.
Standout Performance on Friday
Friday, the latest trading day, was particularly successful for net inflows, with spot Bitcoin ETFs logging $310 million in net inflows. This marked the best day for net inflows since June 5. The inflows were largely driven by BlackRock’s IBIT, the largest spot Bitcoin ETF by asset value, which added $120 million on Friday. Fidelity’s FBTC was close behind with $115 million in inflows, while the majority of the remainder comprised inflows to Grayscale’s GBTC, Bitwise’s BITB, and Ark Invest’s ARKB funds.
“The cumulative net total inflow of $15.81 billion is the highest yet recorded for the funds, narrowly surpassing the previous record of $15.69 billion recorded on June 7, 2024.”
Crypto Industry Anticipates Spot Ethereum ETF Launch
While the current total net asset value of the exchange-traded funds is lower than its all-time sum due to the recent decline in Bitcoin’s price, the level of net inflows is currently at a record high. This suggests that a recovery in Bitcoin’s price could see the record surpassed as well.
Meanwhile, the crypto industry is eagerly anticipating more news on the spot Ethereum ETF front. Industry experts have noted that after several rounds of back-and-forth with the SEC, the funds appear to be readying for launch this month.
As the cryptocurrency market continues to evolve, the record-breaking inflows into Bitcoin ETFs and the anticipated arrival of a spot Ethereum ETF highlight the growing institutional interest and mainstream adoption of digital assets.
