Bitcoin ETFs Add Above $423M in Net Inflows on 16th Jult, SpotOnChain

The inflows in Bitcoin’s ETF market have been increasing day by day. As per SpotOnChain, the famous on-chain analytics provider, the Bitcoin ETFs have seen more than $423 million in terms of net inflows on July 16. The analytics company disclosed the details on its official account on X.

🚨 $BTC #ETF Net Inflow July 16, 2024: +$423M!

• This is the largest inflow in the past 27 days. Overall, the net inflow has been strongly positive for 8 consecutive trading days!

• #BlackRock (IBIT) saw a large inflow of $260M, the highest level in the past 26 days.

Follow… pic.twitter.com/qRH3CWam0s

— Spot On Chain (@spotonchain) July 17, 2024

Bitcoin ETFs Obtain Net Inflows of More than $423M on July 16

The firm mentioned that the respective figure in terms of inflows denotes a milestone for the BTC ETFs. According to SpotOnChain, this represents the biggest inflow in the last twenty-seven days. In addition to this, it also continues a resilient positive momentum for 8 consecutive days. The consistent net inflow points toward a resilient confidence among the investors.

BlackRock Rules the ETF Sector by Adding $260M

Moreover, this development also implies a continuous increase in the interest concerning Bitcoin exchange-traded funds. BlackRock’s IBIT reportedly dominates the ETF market, as the data suggests. The ETF has effectively witnessed a huge amount of up to $260M in inflows. The respective figure reportedly denotes the highest inflow level for the ETF in the previous twenty-six days.

Following that, Fidelity’s FBTC recorded a net inflow of nearly $61M. On the other hand, ARKB and HODL saw $29M and $22M in inflows on the same day. After that, BTCO and BITB secured $20M and $17M worth of inflows. EZBC stood at the bottom with the least inflow of up to $9M with BTCW and GBTC seeing no inflows at all. A noteworthy thing is that none of the BTC ETFs witnessed any outflows.