Bitcoin ETFs log over $300 million in net inflows to reach record level following six-day streak
by Zack Abrams
FUNDS
• July 13, 2024, 12:33PM EDT
Published 1 minute earlier on
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The Block Illlustration by Zoe Ellyse Del Rosario for The Block
Quick Take
Bitcoin ETFs on Friday had their best day since June 5 of total net inflows, gaining over $300 million according to SoSoValue data.
The notable sum marks six trading days in a row of positive inflows to spot bitcoin ETFs, which have logged an additional $1 billion in assets since the start of the streak on July 5 to reach the highest level of cumulative net inflows seen since the launch of the ETFs in January.
Following a six-day streak of positive net inflows that began on July 5, U.S.-based spot bitcoin exchange-traded funds have set a new record for cumulative total net inflows: $15.81 billion, according to SoSoValue data.
The funds have added over $1 billion in assets under management since the beginning of the six-day streak. Friday, the latest trading day, was also the most successful day for net inflows since June 5, with spot bitcoin ETFs logging $310 million in net inflows.
The inflows were largely led by BlackRock's IBIT, the largest spot bitcoin ETF by asset value, which added $120 million on Friday. Fidelity's FBTC was close behind with $115 million in inflows, while the majority of the remainder comprised of inflows to Grayscale's GBTC, Bitwise's BITB, and Ark Invest's ARKB funds, according to SoSoValue.
The cumulative net total inflow of $15.81 billion is the highest yet recorded for the funds, narrowly surpassing the previous record of $15.69 billion recorded on June 7, 2024.
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