Markets
US Bitcoin ETFs Attract Over $2 Billion Inflows in Two Weeks, Amid Renewed Market Optimism
Key points
- Spot Bitcoin ETFs in the US have seen strong inflows this week, with the funds collectively raising more than $1 billion.
- Cryptocurrency market sentiment is turning positive, with the Crypto Fear and Greed Index reaching 74.
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US spot Bitcoin exchange-traded funds (ETFs) have attracted more than $2 billion from investors in the past two weeks, amid renewed market optimism, with the Crypto Fear and Greed Index hitting its highest level since late June, according to data from SoSoValue and Alternative.me.
(Note: Friday streams from ARKB are not included as no updates were observed at the time of reporting.)
Data from Alternative.me shows the Crypto Fear and Greed Index jumped 14 points to 74 on Saturday. The index’s rising score came as the price of Bitcoin (BTC) hit a high of $66,800 on Friday evening, according to TradingView. data Shows.
Last week, the index remained in the “fear” zone. Despite the bearish sentiment in the market, the US spot Bitcoin ETFs Have Attracted Over $1 Billion in the inflows during the week.
Thanks to this success, US spot Bitcoin ETFs continued to attract significant inflows this week.
Bitcoin ETFs started the week on a positive note with Capital of 301 million dollars flows into the funds on Monday. These funds have collectively collected over $1 billion in weekly inflows (excluding Friday flows from ARKB due to lack of updates), with Tuesday seeing the largest daily inflow inflow of over 422 million dollars.
This week alone, BlackRock’s IBIT led the pack with about $706 million in inflows, according to data from SoSoValue and Farside.
IBIT inflows have surpassed $1.2 billion over the past two weeks, accounting for 50% of total flows across eleven spot funds during that period. The fund remains the largest spot Bitcoin ETF with nearly $22 billion in assets under management (AUM) as of July 19.
Fidelity’s FBTC saw about $244 million in inflows this week, while Bitwise’s BITB reported over $70 million. Other gains were also seen in ARK Invest’s ARKB, VanEck’s HODL, Invesco’s BTCO, Franklin Templeton’s EZBC, Valkyrie’s BRRR, and WisdomTree’s BTCW.
Despite net inflows of over $20 million being reported on Friday, Grayscale’s GBTC saw approximately $56 million in outflows.
With Friday’s surge (excluding ARKB), these ETFs have seen sustained inflows for eleven consecutive trading days.
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