Bitcoin ETFs have recently made significant strides despite prevailing bearish trends. According to SpotOnChain, a leading analytics firm in the blockchain space, Bitcoin ETFs collectively received a substantial net inflow surpassing $143 million on July 5. The company shared these insights via its official X account, underscoring the robust performance of these investment vehicles despite recent price declines in Bitcoin.
SpotOnChain highlighted that despite a 7% drop in Bitcoin’s price, US-based Bitcoin ETFs saw inflows totaling $238 million over four trading days this week. Among these, only Grayscale (GBTC) experienced outflows, while others like BlackRock (IBIT) showed positive net flows.
In their detailed analysis, SpotOnChain emphasized the individual contributions of various Bitcoin ETFs. For instance, Fidelity’s ETF led the pack with a notable $117.4 million inflow on July 5, reaffirming investor confidence amidst market volatility. Additionally, ETFs such as HODL, BITB, ARKB, and FBTC secured inflows of $12.9 million, $30.2 million, $11.3 million, and $117.4 million respectively.
Overall, SpotOnChain’s data indicates a resilient interest in Bitcoin ETFs despite challenging market conditions, reflecting a strong belief in the long-term potential of digital assets among institutional and retail investors alike.