Bitcoin ETFs See $310M Inflows as BTC Teases $60K Recovery

• Bitcoin ETFs have extended their inflow streak to a sixth day.
• The funds attracted hundreds of millions despite a relatively low trading volume.
• The development coincided with BTC’s price printing steady gains.

U.S.-based spot Bitcoin exchange-traded funds (ETFs) attracted hundreds of millions on Friday, extending their positive inflow streak to a sixth day.

The funds saw a total trading volume of $1.15 billion on July 12, a slight drop from July 11 , when the volume stood at $1.30 billion. Despite relatively low trading volumes this month as opposed to March when the volume exceeded $8 billion on several days, the funds have tallied a combined $1.04 billion in inflows since July 8.

Bitcoin ETF Flow on July 12

According to SoSoValue data , the 11 spot Bitcoin ETFs witnessed a total daily net inflow of $310.21 million on Friday, marking their best-performing day since June 5.

BlackRock’s IBIT, the largest spot bitcoin ETF by net asset value, logged the largest net inflows of the day with $120.03 million. The fund was also the most traded spot Bitcoin ETF on Friday with a volume of $555.3 million, the data shows.  

Fidelity’s FBTC pulled $115.14 million from investors as Bitwise’s BITB, Grayscale’s GBTC, Ark Invest’s ARKB, VanEck’s HODL, and Invesco’s BTCO recorded daily net inflows of $28.42 million, $23.01 million, $13.02 million, $6.56 million, and $4.03 million, respectively.

While none of the funds bled on July 12, Valkyrie’s BRRR, Franklin Templeton’s EZBC, Wisdom Tree’s BTCW, and Hashdex’s DEFI reported zero flows.

The inflow streak into spot Bitcoin ETFs continued as BTC printed steady gains in a rally toward the $60,000 price level. The world’s largest crypto asset by market cap had gained over 3% in the last 24 hours to trade at $58,669 as of press time, CoinMarketCap data shows.

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