US Bitcoin ETFs See $1.1 Billion Inflow This Week, BTC Holdings At All-Time High

Highlights

This surge in investment has driven Bitcoin ETF holdings to an all-time high of 888,607 BTC.
Despite the German government's extensive Bitcoin liquidation, the substantial inflows into Bitcoin ETFs have stabilized Bitcoin's price.
The total global Bitcoin ETF holdings have surged to a record 1,051,569 BTC.

While the German government was on a strong selling spree throughout this week, spot Bitcoin ETFs in the US witnessed heavy accumulation netting inflows of more than $1.1 billion this week. As a result, the Bitcoin price has managed to prevent any major volatility and is currently trading 1.21% up at $57,924 with a market cap of $1.142 trillion.

Bitcoin ETF Holdings Hit All-Time High

The spot Bitcoin ETFs in the US witnessed consecutive inflows for the past six trading sessions. Interestingly, this was the best weekly inflow recorded by BTC ETFs since the month of May. As per data from HODL15Capital, the Bitcoin holdings by the US ETFs have touched an all-time high of 888,607 BTC.

🧮 Updated USA Bitcoin ETF holdings (including today’s inflows).

New all-time high of 888,607 BTC held by the U.S. ETFs 👇 https://t.co/WsdwjZnaN2 pic.twitter.com/HUrEBSNzvi

— HODL15Capital 🇺🇸 (@HODL15Capital) July 13, 2024

As of Friday, July 12, the total inflows of the US Bitcoin ETF stood at a staggering $311 million with BlackRock’s IBIT leading the show with $121 million in inflows. Fidelity’s FBTC stood second with $115 million in inflows on Friday. None of the spot Bitcoin ETFs saw any outflows including Grayscale’s GBTC.

The BlackRock BTC ETF was leading throughout the week netting total inflows of $523 million this week while Fidelity’s FBTC saw $356 million of net inflows this week. With this, the total AUM in BlackRock IBIT has now crossed $18.2 billion while Fidelity’s FBTC AUM is just short of $10 billion since inception.

Also Read: Why Is Bitcoin Price Dropping Despite Higher Odds Of Fed Rate Cut?

Total Global BTC ETFs Holdings At All-Time High

Not only the US BTC ETFs, but global ETFs having exposure to Bitcoin have seen their holdings surge to an all-time high of 1,051,569 BTC.

The Hong Kong Bitcoin ETFs have also continued silent accumulation with its total BTC holdings hitting a new record high of 4,941 BTC.

✅ Bitcoin held by the Hong Kong 🇭🇰 Bitcoin ETFs hits record high👇 pic.twitter.com/3GZmN1PlR0

— HODL15Capital 🇺🇸 (@HODL15Capital) July 12, 2024

Interestingly, this development comes with the German government liquidating all of its Bitcoin holdings over the past month. Seems that the inflows into ETFs have managed to successfully absorb the selling pressure on Bitcoin. It also shows that the institutional demand for regulated bitcoin products remains intact despite the current price volatility.

Also Read: JP Morgan Predicted Next Crypto Bull Run?

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Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets.   He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

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