US Bitcoin ETFs are having a fantastic run, attracting massive investments lately. This isn’t surprising, given the super positive vibes around crypto in the US right now. President Trump even signed the GENIUS Act, the first-ever crypto bill, into law!
A Week of Big Numbers
The week ending July 18th was particularly impressive. Daily inflows hit $363.45 million – the 12th day in a row of positive cash flow!
BlackRock’s iShares Bitcoin Trust (IBIT) was the star, adding a whopping $496.75 million. This ETF is a giant, nearing a $90 billion portfolio! WisdomTree’s Bitcoin Trust (BTCW) also saw a positive inflow, its first since some withdrawals earlier this year.
While a few other ETFs like Fidelity Wise Origin Bitcoin Fund (FBTC), Grayscale Bitcoin Trust (GBTC), and others saw some withdrawals, the overall trend was overwhelmingly positive. The total inflow for the week topped $2.39 billion – the second week in a row above $2 billion!
Bitcoin’s Price Soars
This huge ETF inflow wasn’t happening in a vacuum. Bitcoin’s price also had a record-breaking week, hitting a new all-time high of $122,800! While it’s currently around $118,000, it’s still up over 12% in the last month.