PiCK
US Spot Bitcoin ETFs Draw $79.15 Million, Marking Third Straight Day of Inflows
Summary
- US spot Bitcoin ETFs posted net inflows for a third straight trading session.
- On July 16, US spot Bitcoin ETFs recorded total net inflows of $79.15 million, with IBIT and FBTC leading the gains.
- The total net asset value of spot Bitcoin ETFs stands at $77.72 billion, and the market is watching whether institutional demand can support a floor for prices.
Forecast Trend Report by Period
US spot Bitcoin exchange-traded funds posted net inflows for a third consecutive trading day.
Data from on-chain analytics platform SoSoValue showed US spot Bitcoin ETFs recorded combined net inflows of $79.15 million on July 16.
BlackRock's IBIT attracted the largest inflow, with $33.4438 million added in a single day. Its cumulative net inflows since launch reached $60.353 billion.
Fidelity's FBTC followed with daily net inflows of $30.7255 million. Its cumulative net inflows stood at $9.974 billion.
Total net assets held by spot Bitcoin ETFs were $77.72 billion. That was equal to 6.04% of Bitcoin's total market capitalization, while cumulative net inflows reached $51.22 billion.
Even as the digital-asset market undergoes a short-term correction, money continues to flow into spot Bitcoin ETFs. The focus is on whether institutional demand can help support the market's floor.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.