US spot bitcoin ETFs report $130 million in net inflows, largest influx in three weeks

Quick Take

  • The spot bitcoin ETFs in the U.S. recorded a total daily net inflow of $129.45 million on Monday.
  • The largest daily net inflow was seen in Fidelity’s FBTC.

The 11 U.S. spot bitcoin exchange-traded funds saw total daily net inflows of $129.45 million on Monday, reporting their fifth consecutive day of positive flows. Monday’s net inflows also marked the largest fund intake the ETFs have seen since June 7.

Fidelity’s FBTC led the inflows yesterday with $65 million, followed by Bitwise’s BITB, which recorded $41 million, according to data from SosoValue. Ark Invest and 21Shares’ ARKB reported net inflows of $13 million. Funds from Invesco and Galaxy Digital, VanEck and Franklin Templeton saw relatively minor inflows of around or under $5 million. 

BlackRock’s IBIT and Grayscale’s GBTC, the two largest spot bitcoin ETFs in terms of net asset value, saw zero flows on Monday. 

The 11 bitcoin funds saw about $1.36 billion in trading volume on Monday. The ETFs have accumulated a total net inflow of $14.65 billion since their January inception.

RELATED INDICES

Meanwhile, the price of bitcoin dipped 0.3% in the past 24 hours to $63,094 at the time of publication, according to The Block’s bitcoin price page. Bitcoin has recovered from last week’s brief low point of under $60,000, but remains significantly lower than its price level of above $71,000 in early June.

QCP Capital analysts said in a Monday report that both bitcoin and ether tend to fare better in July due to the positive seasonality observed historically. Coinbase analysts also pointed to the positive seasonal trend in July.


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© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Danny Park is an East Asia reporter at The Block writing on topics including Web3 developments and crypto regulations in the region. He was formerly a reporter at Forkast.News, where he actively covered the downfall of Terra-Luna and FTX. Based in Seoul, Danny has previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor of Journalism and Business Marketing from the University of Hong Kong.

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