A remarkable surge has occurred in US Bitcoin ETFs, which have attracted $2 billion in new funds this month.
This month, US spot Bitcoin exchange-traded funds (ETFs) have attracted $2 billion in new funds, demonstrating their substantial success.
This surge underscores Bitcoin’s prominent position as a digital asset that consistently captivates both institutional and retail investors.
The market data from Farside Investors indicates that US-traded spot Bitcoin ETFs have received over $2 billion in inflows since early July. The 11 funds experienced a cumulative net inflow of over $1 billion over the past week, which is the third consecutive week of robust net inflows.
These exchange-traded funds (ETFs) experienced inflows exceeding $300 million on three separate occasions this week, with the maximum single-day inflow of $422.5 million in the past six weeks occurring on July 16.
Additionally, the ETFs have achieved a new milestone, surpassing Bloomberg analysts’ projections of $15 billion over the course of a year, with $17 billion in net flows over the past six months. Shubh Varma, Co-Founder and CEO of Hyblock Capital, underscored the importance of these figures in an interview with BeInCrypto, asserting that the inflows suggest a renewed surge in investor interest and robust market demand.
The total number of BTC held by US-listed ETFs has reached a record high of over 900,000 BTC, valued at over $60 billion, as a result of this extraordinary influx. According to Nate Geraci, President of the ETF Store, these holdings account for 4.3% of the total supply of BTC.
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