Bitcoin ETF inflows hit $233 million as BlackRock’s IBIT leads
US spot Bitcoin ETFs took in $233.1 million Thursday, led by BlackRock’s IBIT, putting the funds back in positive territory for the week.
By Theo Nakamura · Staff Writer
· 3 min read
Bitcoin ETF inflows came back hard on Thursday, with US spot Bitcoin funds drawing $233.1 million, according to SoSoValue data. For everyday investors watching crypto through brokerage accounts instead of wallets, the move shows renewed demand for regulated Bitcoin products even as Bitcoin’s price was lower over the week.
The day’s total was the strongest inflow for US spot Bitcoin exchange-traded funds in more than three weeks, according to the same data. An exchange-traded fund, or ETF, is a security that trades like a stock and gives investors exposure to an underlying asset or group of assets. A spot Bitcoin ETF is designed to track Bitcoin exposure through a fund structure listed on traditional exchanges.
BlackRock’s iShares Bitcoin Trust, known by its ticker IBIT, accounted for most of Thursday’s activity. SoSoValue data showed IBIT brought in $183.4 million in net inflows, equal to 78.7% of the day’s total across US spot Bitcoin ETFs.
Other funds also added assets. Bitwise’s BITB recorded $20.7 million in net inflows, while Fidelity’s FBTC added $15.5 million, according to SoSoValue. Several other spot Bitcoin ETFs posted smaller positive flows.
What do Bitcoin ETF inflows mean?
Bitcoin ETF inflows mean more money entered the funds than left them during a trading period. They do not guarantee Bitcoin’s price will rise, but they are closely watched because they show how much demand is coming through listed investment products.
Thursday’s inflows changed the tone for the week. SoSOValue data showed US spot Bitcoin ETFs had $203.84 million in net inflows for the week after Thursday’s trading. If Friday’s outflows do not exceed that amount, the funds would finish a fourth consecutive week with net inflows.
The monthly picture also improved. After Thursday’s additions, July stood at $437.8 million in net inflows for US spot Bitcoin ETFs, according to SoSoValue. That put the funds on course to end a two-month run of multibillion-dollar monthly outflows.
Bitcoin itself did not mirror the ETF flow data in the short term. CoinGecko listed Bitcoin at $64,338 at the time of reporting, down 1.8% over the previous seven days.
How did Ether ETFs perform?
US spot Ether ETFs also added money on Thursday, though at a smaller scale. The funds recorded $13.3 million in net inflows, according to the reported data.
Ether ETF flows have been stronger in July than they were in June. The funds posted losses in only five trading sessions during July, after recording net inflows on just four trading days in June. CoinGecko listed Ether at $1,905 at the time of reporting.
The split between fund flows and token prices is a reminder that ETF demand is only one input in crypto markets. Traders also respond to broader risk appetite, macro data, liquidity and crypto-specific news, so daily inflows can coexist with a weaker weekly price move.
This story draws on original reporting from Cointelegraph.
