Based on Thursday’s data, the 11 U.S. spot bitcoin exchange-traded funds (ETFs) experienced another day of net inflows following Wednesday’s increases. Statistics indicate that $31.16 million was absorbed primarily by Blackrock’s IBIT, although the amount would have been higher if not for the reduction seen by Grayscale’s GBTC.
US Bitcoin ETFs Report $31.16M Inflows on Thursday
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Bitcoin ETF Market Prints $59B Total Value
The July 25, 2024, spot bitcoin ETF trading session recorded a $31.16 million gain, following the $44.51 million in inflows seen the previous day. Only two funds had significant activity on Thursday, with Blackrock’s IBIT receiving $70.75 million in inflows while Grayscale’s GBTC divested $39.59 million.
Currently, IBIT holds 338,128.55 BTC with a market value of around $21.8 billion. Grayscale’s GBTC secures 271,212.24 BTC, valued at $17.5 billion. Together, the 11 funds manage $59.14 billion in BTC, with IBIT and GBTC accounting for 66.45% of the total.
The other nine funds experienced neutral trading on Thursday, with no inflows or outflows recorded, according to sosovalue.xyz metrics. However, $1.51 billion in trade volume was settled, bringing the cumulative net inflows to $17.54 billion since Jan. 11, 2024. The ongoing fluctuations in spot bitcoin ETF inflows underscore the current crypto market’s dynamic nature.
What do you think about the inflows recorded by the spot bitcoin ETFs on Thursday? Share your thoughts and opinions about this subject in the comments section below.
