The spot Bitcoin exchange-traded fund (ETF) market in the United States saw a notable daily inflow of $129.45 million, marking the fifth consecutive day of inflows.
Spot Bitcoin ETFs in the U.S. were approved by the Securities and Exchange Commission on January 10 and began trading the following day. In the initial months, major ETF issuers experienced significant inflows and trading volumes, except for Grayscale’s GBTC, which has mostly seen zero or negative flows since its inception.
On July 1, Bitcoin ETFs recorded their highest inflow since June 7, with a substantial $129.45 million coming in. This positive trend helped the BTC price climb back to $63,000 after weeks of struggling to break the $62,000 resistance level.
Data from the crypto research platform SoSo Value showed that Fidelity’s ETF led the inflows, receiving 1,030 BTC worth $65 million, followed by the Bitwise ETF, which saw an inflow of 650 BTC worth $41 million.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
