Recently, US spot Bitcoin ETFs (exchange-traded funds) have been experiencing a remarkable surge, drawing significant investments over the past weeks. This upward trend aligns with the growing optimism surrounding cryptocurrency in the United States.
For instance, US President Donald Trump officially enacted the GENIUS Act, the first crypto-related legislation, into law on Friday, July 18. On the same day, spot Bitcoin ETFs continued their pattern of daily capital inflows.
Bitcoin ETFs See $363 Million Inflow to Conclude the Week
According to recent market reports, US Bitcoin ETFs recorded a total daily net inflow of $363.45 million on Friday, July 18. This influx marked the 12th consecutive day of positive capital movement for these crypto-focused investment vehicles.
Notably, BlackRock’s iShares Bitcoin Trust (IBIT) accounted for the majority of the day’s inflow, contributing $496.75 million. This leading Bitcoin ETF, nearing a $90 billion portfolio, continues to impress with its growth.
WisdomTree’s Bitcoin Trust (BTCW) was another ETF reporting a positive inflow on Friday, with a $3.11 million addition, marking its first activity since withdrawals in late March and April, according to SoSoValue.
Aside from this, five other Bitcoin ETFs showed investor engagement on Friday, including Fidelity Wise Origin Bitcoin Fund (FBTC), Grayscale Bitcoin Trust (GBTC), ARK 21Shares ETF (ARKB), Bitwise Bitcoin ETF (BITB), and VanEck Bitcoin ETF (HODL). Collectively, these ETFs saw a net withdrawal of $136.42 million by the week’s end.
Despite these withdrawals, Bitcoin ETFs maintained their 12-day streak of positive net inflows. Additionally, they achieved a second consecutive week with over $2 billion in inflows, totaling $2.39 billion last week.
Bitcoin Price Update
This $2 billion milestone for US Bitcoin ETFs coincided with a notable week for Bitcoin prices. BTC continued its upward trajectory, reaching an all-time high of $122,800 last week.
Currently, Bitcoin is trading around $118,000, showing little change over the past 24 hours. Data from CoinGecko indicates that the leading cryptocurrency has increased by more than 12% over the past month.
