ETFs
Bitcoin Spot ETFs See Record Inflows After July 4 Drop — TradingView News
U.S.-based Spot Bitcoin exchange-traded funds (ETFs) saw a surge in inflows on July 6, after the price of Bitcoin fell below $54,000 a few days earlier on July 4.
According to Farside Investors, the Bitcoin spot BTC/USD ETFs saw their largest net inflows in a month, with $143.1 million in inflows.
Strong financial flows follow Bitcoin price drop
The Fidelity Wise Origin Bitcoin Fund (FBTC) led inflows with $117 million, the Bitwise Bitcoin ETF (BITB) saw a net inflow of $30.2 million, and the ARK 21Shares Bitcoin ETF (ARKB) and VanEck Bitcoin Trust (HODL) saw inflows of $11.3 million and $12.8 million, respectively.
The Grayscale Bitcoin Trust (GBTC) saw a net outflow of $28.6 million.
Despite recent market turbulence, substantial inflows into ETFs suggest that institutional investors and large-scale buyers are taking advantage of the falling Bitcoin price to accumulate BTC at lower prices.
Great opportunity to buy Bitcoin
Hunter Horsley, CEO of Bitwise Asset Management, highlighted his team’s efficiency in acquiring Bitcoin at a cost of less than half a basis point.
Horsley also highlighted Bitcoin’s favorable outlook, suggesting that current market conditions present a valuable buying opportunity for new and existing investors. “The outlook for Bitcoin has never been better. For many who don’t already have exposure, this week is an opportunity to buy the dip,” he said.
During the first week of July, BITB saw inflows exceeding $66 million, increasing its total Bitcoin holdings to over 38,000 BTC.