Bitcoin exchange-traded funds (ETFs) are seeing a surge in investment, with over $422 million flowing into them on July 16th. This is the highest amount in six weeks!
BlackRock’s IBIT ETF was the big winner, attracting a whopping $260.2 million. Other popular ETFs like Fidelity’s FBTC, ARK Invest’s ARKB, VanEck’s HODL, and Invesco’s BTCO also saw significant inflows, ranging from $20.5 million to $61 million.
This recent boom follows a record-breaking $886 million in inflows last month. The all-time high was set on March 12th, when ETFs pulled in over $1 billion.
The SEC’s approval of spot Bitcoin ETFs in January after years of resistance has opened the floodgates for investment. The decision came after a court ruling forced the SEC to be consistent with its approval of futures Bitcoin ETFs.
Since their launch, Bitcoin ETFs have attracted over $16.5 billion in cumulative investments. Bitcoin is currently trading at $64,500, slightly down from yesterday.
It’s clear that investors are increasingly confident in Bitcoin and its potential. The surge in ETF inflows is a strong indicator of this growing interest.
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