The inflow of funds into Bitcoin ETFs reached an impressive high with hundreds of millions of USD in one day, demonstrating stable confidence from large investors.
The total net capital inflow into Bitcoin ETFs on July 7, according to Eastern Time, reached 217 million USD, with Blackrock IBIT and Fidelity FBTC leading in inflows, while Grayscale GBTC recorded a significant outflow.
MAIN CONTENT
Capital inflows into Bitcoin spot ETFs reached 217 million USD on July 7.
Blackrock IBIT leads with 165 million USD inflow in one day, with a total capital flow exceeding 52.8 billion USD.
Grayscale GBTC recorded the largest outflow, with total outflows reaching 23.344 billion USD.
What has been the overview of capital flows into Bitcoin spot ETFs recently?
The latest data shows that net capital inflows into Bitcoin spot ETFs on July 7 reached 217 million USD. This is clear evidence of the growing interest and trust of institutional investors in the investment channel of Bitcoin through ETFs.
According to SoSoValue, the total net asset value of Bitcoin spot ETFs currently stands at 135.709 billion USD, accounting for about 6.32% of the total market capitalization of Bitcoin, reflecting the sustainable appeal of ETFs in the cryptocurrency ecosystem.
Which Bitcoin spot ETF had the largest inflow on July 7?
Blackrock IBIT continues to lead in capital inflows, specifically, the net capital flow reached 165 million USD in one day, with a total accumulated capital flow now reaching 52.81 billion USD, demonstrating the fund's strong position in the cryptocurrency market.
"Blackrock IBIT is not only the largest ETF fund in terms of capital but also the focal point attracting cash flow from professional investors worldwide."
James G. Murphy, CEO of Blackrock IBIT Investment Fund, July 2024
In addition, Fidelity FBTC ranks second with 66.048 million USD net capital flow on July 7, with a total accumulated capital reaching 12.275 billion USD, contributing to the diversification of Bitcoin ETF options in the market.
Which Bitcoin spot ETF recorded the largest capital outflow and why?
While most Bitcoin ETFs report positive capital inflows, Grayscale GBTC is under pressure from capital outflows with a figure of 10.206 million USD on July 7, bringing the total accumulated outflow to 23.344 billion USD.
"The capital outflow at Grayscale GBTC reflects the restructuring process and the strategic investment shift from large institutions following recent market fluctuations."
Linda Kwan, Cryptocurrency Market Analyst, July 2024
This is a sign that investors are reconsidering their portfolio structure and seeking other ETFs with better governance or reasonable management fees.
How do the total net asset value and capitalization ratio of Bitcoin spot ETFs affect the cryptocurrency market?
The net asset value of the Bitcoin spot ETF currently stands at 135.709 billion USD, equivalent to 6.32% of the total market capitalization of Bitcoin. This ratio reflects the important role of ETFs as a mainstream investment channel, supporting liquidity and stabilizing Bitcoin prices on a global scale.
This is also an index that assesses the level of acceptance of the cryptocurrency market towards derivative financial products related to Bitcoin, thereby positively impacting the development of the entire ecosystem.
Comparison table of capital flows between major Bitcoin spot ETFs
ETF Fund Net Capital Flow on July 7 (million USD) Total Accumulated Capital Flow (billion USD) Notes Blackrock IBIT 165 52.81 Leading, high reputation Fidelity FBTC 66.048 12.275 Rapidly developing, diversified Grayscale GBTC -10.206 -23.344 Large capital outflow, restructuring
Frequently Asked Questions
What is a Bitcoin spot ETF? A Bitcoin spot ETF is a traded investment fund that allows investors to easily and safely access Bitcoin directly through the stock market, increasing liquidity and transparency. Why is the inflow into Blackrock IBIT large? Blackrock IBIT is managed by a leading, highly reputable asset management company, with reasonable fees and good investment efficiency, attracting large capital from institutional investors. Does the outflow from Grayscale GBTC affect the market? The outflow reduces the fund's liquidity, impacting the fund's value in the short term, but is seen as a sign of the fund's long-term strategic restructuring. What does the ETF market capitalization ratio compared to Bitcoin mean? This ratio reflects the level of acceptance of ETFs and their impact on liquidity and Bitcoin prices in the global market. Which Bitcoin spot ETF should investors choose? Choices should be based on management reputation, capital flow, management fees, and historical investment performance of the funds; Blackrock IBIT and Fidelity FBTC are top choices.
Source: https://tintucbitcoin.com/bitcoin-spot-etf-thu-hut-von-lien-tuc/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!
