Bitcoin ETF Traders Bought the Dip and Now Are Buying the Rebound as Inflows Topped $300M Monday

Lifetime net inflows into the U.S.-based spot bitcoin exchange-traded funds topped $16 billion on Monday as investors of late have shown themselves to be buyers in both up and down markets. The funds yesterday added another $300 million, marking the seventh consecutive day of overall net inflows, according to data from Farside Investors.

Most of the money was poured into BlackRock’s iShares Bitcoin Trust (IBIT) which took in $117.2 million. Currently with $18.4 billion in assets under management, IBIT appears poised to soon cross the $20 billion mark, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) is nearing the $10 billion AUM threshold.

The strong inflows came as bitcoin bounced strongly from the mid-$50K area at which it had been stuck in since earlier this month when Germany’s sale of 50,000 BTC combined with Mt. Gox repayments to crash the market. Bitcoin (BTC) at press time was trading at $64,600, up about 13% from levels seen late Friday afternoon.

This long streak of ETF inflows is particularly notable as it began alongside bitcoin's early July plunge, with net additions ranging from $140 million to $300 million per day. The action stands in contrast with ideas from a few bears in the space who have contended that much of the ETF interest was hot money that would dump the funds at the first sign of price trouble.

Inflows also come as issuers of a potential spot ether ETF prepare to submit their final documents with the U.S. Securities and Exchanges Commission (SEC) who signaled that the funds could hit the market as soon as Tuesday, July 23.

For more insights on how blockchain technology is transforming various industries, check out our article on Blockchain Technology: Revolutionizing the Future of Banking.

The cryptocurrency market continues to evolve, and the interest in ETFs is a testament to the growing acceptance and integration of digital assets in traditional financial systems. To understand more about the impact of blockchain on different sectors, read our comprehensive guide on Blockchain in Supply Chain Management: Transparency & Efficiency.

As the market dynamics shift, staying informed about the latest trends and developments is crucial. Explore our detailed analysis on AI and DeFi: Revolutionizing Financial Ecosystems to see how artificial intelligence and decentralized finance are shaping the future of financial services.

For more articles and insights, visit our .

Read more blogs from our website:

Disclosure: Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Edited by Stephen Alpher.

Keywords for Internal Linking:

["Bitcoin", "ETF", "cryptocurrency", "investment", "BlackRock", "Fidelity", "market trends", "digital assets", "blockchain", "SEC", "ether ETF", "Mt. Gox", "Germany BTC sale", "Farside Investors", "Bullish group"]

Next Steps:

I will now use the markdown_content_gen function to save this article in markdown format.

Drive innovation with intelligent AI and secure blockchain technology! Check out how we can help your business grow:

Blockchain App Development

AI Software Development

Discover how our expertise can help your business grow and thrive in today's digital landscape!