Bitcoin ETF Inflows Push Total AUM To New ATH Above $16 Billion

The third week of July has started on a pretty strong note with the Bitcoin price surging all the way to $65,000 while the total Bitcoin ETF inflows continue to remain robust. On Monday, the US Bitcoin ETFs recorded over $300 million in inflows for the second consecutive day.

Bitcoin ETF Inflows Make New Milestone

For the last seven consecutive trading sessions, the spot Bitcoin ETFs have registered strong inflows which is a healthy development hinting at less long-term volatility for Bitcoin.

On Tuesday, the US BTC ETFs registered net inflows of $300.9 million with none of the ETFs showing any outflows. Along with BlackRock’s IBIT, Ark Invests ARKB led the total inflows on Monday at $117.2 million each.

With this, the total assets under management for all nine spot Bitcoin ETFs in the US have crossed $16.1 billion for the first time since inception. Of course, BlackRock is leading the pack in terms of the overall contribution to the total AUM. These strong inflows have continued following BlackRock CEO Larry Fink strongly endorsing Bitcoin investments in his latest CNBC interview. Fink said:

“I’m a major believer that there is a role for Bitcoin in portfolios. I believe you’re going to see that as one of the asset classes that we all look at. I look at it as digital gold, as I said before”.

Also Read: Ethereum To Outperform Bitcoin After Spot ETF Launch

ETF Trading volumes Skyrocket

On Monday, the trading volumes for BTC ETFs surged significantly. Blackrock’s IBIT led the pack recording nearly $1.2 billion in trading volumes followed by Fidelity’s FBTC seeing over $410 million in daily trading volumes.

U.S. Bitcoin ETF trading volumes on 7/15 $IBIT $1.2 Billion, $FBTC > $GBTC, $ARKB $165m, $BITB $92m pic.twitter.com/Mso5YsH8m2

— HODL15Capital (@HODL15Capital) July 15, 2024

While the Bitcoin ETFs provided a regulated way to seek exposure to the asset class, they have seen strong demand from retail as well as institutional investors alike.

CryptoQuant CEO Ky Young Ju stated: “Even just combining the 80 companies found manually in SEC filings accounts for 17% of the total ETF holdings. While not all can be considered institutional investors, significant numbers are included. Viewing ETF inflows solely as retail contributions seems inappropriate”.

Also Read: Hong Kong & Australia Bitcoin ETF Inflows Hit Record High

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