US Spot Bitcoin ETFs See Continued Inflows as Investors Buy the Dip

• The spot Bitcoin ETFs recorded $216 million in total net inflows according to Sosovalue data. 
• In the past month, the ETF showed several outflows as attention turned to altcoin Spot ETFs.

The US Spot Bitcoin ETFs witnessed another consecutive day of inflows in the last 24 hours. While the past week witnessed an eventful crypto market crash, Investors after a brief FUD stepped up to take advantage of the price dip. Thus, despite the increasing liquidations, investments also soared in the past week. 

Firstly, the spot Bitcoin ETFs recorded net total inflows of $216 million as of July 9 according to Sosovalue data. Previously, in the past week on July 1, the 11 ETFs recorded $129.45 million in net total inflows. However, the following days witnessed the ETF breaking its 5-day streak of inflows amid the market crash. Subsequently, as aforementioned, from July 5 the ETP recovered to see inflows. 

In the last 24 hours, the Grayscale’s spot Bitcoin ETF GBTC, amid net inflows, witnessed $37.5 million outflows. However, Grayscale is still the largest ETF in the market. Meanwhile, BlackRock’s IBIT and Fidelity’s FBTC recorded $121.03 million and $90.95 million inflows respectively. Ark Invest and 21 Shares ETF witnessed $43.3 million in inflows. 

Notably, Bitwise’s BITB recorded outflows of $4.72 million. Grayscale and Bitwise-issued spot Bitcoin ETFs are the only two that witnessed outflows. VanEck’s HODL ETF recorded $3.27 million in inflows while the other 5 ETFs showed neutral flows. 

Moreover, the digital asset currently boasts a total net asset value of $50.79 billion. In the last 24 hours, the 11 ETFs traded for a total value of $1.98 billion. 

Are Spot Bitcoin ETFs Back in the Spotlight? 

In the past month, spot BTC ETFs exhibited several outflows as market attention turned to altcoin spot ETFs. The market is anticipating the trading of spot Ethereum ETFs in July and also saw rising speculations of spot Solana ETFs. Amid the sparking of market debate, spot Bitcoin ETFs took the back seat in June. 

However, the beginning of July showed recovery for the spot Bitcoin ETFs. As aforementioned, the present market dip witnessed a huge influx of investments into several digital assets including BTC ETFs. 

Meanwhile, Bitcoin price in the last 24 hours has shown upward movements and surpassed the $58K level according to CMC data. 

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