On Friday, July 19, the inflows into spot Bitcoin ETFs bounced back strongly once again approaching $400 million for the second day in a week. This massive inflow led to a strong surge in the Bitcoin price which gained 4% in the last 24 hours shooting past $67,000 on Friday. While BlackRock’s IBIT was the torchbearer of major inflows throughout the past ten days, Fidelity’s FBTC outshined all others on Friday.
On Friday, Fidelity ETF FBTC saw a staggering $141 million in inflows while BlackRock’s IBIT saw $116 million in inflows yesterday. With non-stop inflows over the past 10 days, IBIT has clocked more than $1.3 billion in inflows during this time.
Fidelity’s FBTC is also on the verge of hitting a major milestone of crossing more than $10 billion in net assets under management. As of Friday’s closing, the total AUM of FBTC stands at $9.962 billion.
Almost all other Bitcoin ETFs registered net inflows on Friday. Grayscale’s GBTC also witnessed $20 million in inflows yesterday.
Also, the high trading volumes in spot BTC ETF show major confidence and excitement among investors. On Friday, BlackRock’s IBIT had a total trading volume of $1.7 billion while Fidelity’s FBTC had a volume of $600 million.
Amid the staggering inflows, the Bitcoin price has extended its gains by an additional 4% moving past $67,000 levels. The daily trading volume has also surged by more than 37% shooting past $36.5 billion on Friday.
Also Read: Will US Spot Bitcoin ETFs Reach 1 Million BTC Holdings by the End of July?
On Friday, the Bitwise BTC ETF clocked $44 million in inflows, thereby taking the total weekly inflows to more than $68 million. Bitwise Investments CEO Hunter Horsley stated that the total assets under management for BITB have now exceeded more than $2.5 billion.
A notable feature of the BITB is its support for the Bitcoin development community, with 10% of gross profits donated to open-source Bitcoin developers. “All 66 of us at Bitwise spend every hour of our days focused on this space. Thank you to investors for entrusting us to be stewards of your capital,” said Horsley. He also encouraged attendees of the Bitcoin Conference to greet team members Matt Hougan and Hong Kim if they see them at the event.
~$68,000,000 inflows into the Bitwise Bitcoin ETF ( $BITB ) this week.
AUM >$2,500,000,000.
BITB investors support open source Bitcoin developers with 10% of gross profits donated (details: https://t.co/yr8yecUjLV).
All 66 of us at Bitwise spend every hour of our days focused…
— Hunter Horsley (@HHorsley) July 19, 2024
Also Read: Donald Trump To Reportedly Announce Bitcoin Strategic Reserve
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