NEW YORK, July 11, 2024 — U.S. spot Bitcoin exchange-traded funds (ETFs) are currently witnessing a significant surge in investor interest, as evidenced by a notable streak of positive net inflows. On Wednesday, July 10, 2024, these ETFs collectively attracted $147.37 million in new investments, marking the fourth consecutive day of net positive flows. This trend highlights a growing confidence in Bitcoin as an investment asset and underscores the increasing appeal of spot Bitcoin ETFs among investors.

Leading the inflow surge was Fidelity Digital Assets' FBTC fund, which recorded an impressive $57.79 million in net inflows. This substantial figure indicates a robust investor confidence in Fidelity's Bitcoin offering, reflecting a broader trend of growing enthusiasm for Bitcoin-focused financial products. The FBTC fund's strong performance suggests that investors are increasingly turning to established financial institutions for their cryptocurrency investments.

Franklin Templeton's spot Bitcoin ETF also made notable strides, drawing $31.66 million in inflows. This represents the highest daily inflow for the fund since early May, signaling a resurgence in interest and a positive shift in market sentiment. The increased investment in Franklin Templeton's ETF reflects a renewed appetite for Bitcoin exposure, further demonstrating the fund's growing attractiveness to investors.

BlackRock's IBIT, which is recognized as the spot Bitcoin ETF with the largest net asset value, reported a healthy $22.24 million in positive inflows. This continued growth reinforces BlackRock's prominent position in the ETF market and highlights its successful strategy in attracting Bitcoin investments. The inflows into IBIT indicate sustained investor confidence in BlackRock's expertise and management capabilities in the cryptocurrency sector.

In addition, Valkyrie's BRRR contributed $20.68 million to the day's inflow total. This notable addition underscores the positive sentiment prevailing among established ETF providers and reflects Valkyrie's growing influence in the Bitcoin ETF market. The contributions from BRRR and other ETFs reinforce the trend of increasing investment in Bitcoin and suggest that the market for spot Bitcoin ETFs is becoming increasingly dynamic.

Overall, the sustained influx of capital into spot Bitcoin ETFs over the past few days signals a vibrant and growing market. The positive inflows across multiple funds reflect a broader trend of rising investor confidence in Bitcoin and its related financial products. As the market continues to evolve, these developments suggest a strong and potentially lasting interest in Bitcoin ETFs, paving the way for further growth and innovation in the cryptocurrency investment landscape.