BlackRock’s IBIT ETF holds $18b in BTC amid continuous inflows

Bitcoin ETFs See Mixed Flows Amid Bullish Market Momentum

According to data from Farside Investors, spot BTC ETFs experienced $216.4 million in inflows on Tuesday, marking their third consecutive day of gains. The total inflows for these ETFs now stand at $15.2 billion.

On July 9, the IBIT ETF saw significant activity with $121 million in inflows, pushing its market cap to $18.04 billion. In contrast, BlackRock’s spot BTC ETF only recorded one day of net outflows worth $36.9 million on May 1.

However, the Grayscale Bitcoin Trust (GBTC) faced $37.5 million in net outflows. Earlier in the week, GBTC had $25.1 million in inflows on July 8, aligning with a market-wide bullish trend. Since its launch, GBTC has seen over $18.6 billion in net outflows.

The Bitwise Bitcoin ETF (BITB) also struggled, recording $4.7 million in outflows.

In more positive news, the Fidelity Wise Origin Bitcoin Fund (FBTC), ARK 21Shares Bitcoin ETF (ARKB), and VanEck Bitcoin Trust (HODL) contributed $91 million, $43.3 million, and $3.3 million in net inflows, respectively.

Although Tuesday’s inflows were smaller than Monday’s $295 million, they helped sustain the bullish sentiment in the crypto market. Consequently, Bitcoin reached an intraday high of $59,400 for the first time in a week and is trading at $59,200 at the time of writing.