Bitcoin ETF Market Sees Significant Inflows

The Bitcoin exchange-traded fund (ETF) market witnessed a substantial net inflow of $216 million on July 9, 2024. This marks the third consecutive trading day of positive inflows, all with notable amounts.

BlackRock’s Bitcoin ETF (IBIT) continued its impressive performance by leading the leaderboard with a significant inflow of $121 million. This consistent influx highlights investor confidence in BlackRock’s offering.

Grayscale Experiences Outflows

Contrastingly, Grayscale’s Bitcoin Trust (GBTC) faced an outflow of $37.5 million, following a brief period of inflow the previous day. This pattern indicates fluctuating investor sentiment towards Grayscale’s ETF.

The overall trend remains positive for Bitcoin ETFs, with three consecutive days of high net inflows reflecting strong investor interest and confidence in the cryptocurrency market. The recent net inflow figures for Bitcoin ETFs, particularly BlackRock’s dominant position, suggest robust investor engagement in the market. However, Grayscale’s outflows indicate varying investor preferences and market dynamics.