NEW YORK, July 20, 2024 – Between July 15 and July 19, 2024, spot Bitcoin ETFs experienced a remarkable net inflow of $17.08 billion.

On July 19, these ETFs recorded inflows of $383.6 million, the second-largest amount for the month, following a record high of $422.9 million on July 16. The Fidelity Wise Origin Bitcoin Fund (FBTC) and BlackRock’s iShares Bitcoin Trust (IBIT) led the charge, bringing in $141 million and $116.2 million, respectively, according to SoSoValue data.

Other Bitcoin ETFs, such as the Bitwise Bitcoin ETF (BITB) and the VanEck Bitcoin Trust ETF (HODL), also saw notable inflows, reinforcing the growing investor interest. Bitwise’s BITB recorded the third-highest inflow at $44.6 million, while VanEck’s HODL contributed $41.8 million to the daily total.

Grayscale’s GBTC reversed a streak of negative flows, attracting $20.3 million and maintaining a significant market presence with $18.29 billion in net assets.

The Coinshares Valkyrie Bitcoin Fund ETF (BRRR) and Invesco’s BTCO added $7.6 million and $6.4 million, respectively. Meanwhile, ARK’s AKB saw no activity, but Franklin Templeton’s EZBC and WisdomTree’s BTCW rounded out the day with $3.9 million and $1.8 million in inflows, respectively.

Throughout the week, the spot Bitcoin ETF market reached a six-week high in inflows, driven by renewed investor confidence and optimism. Data from Farside Investors and SoSoValue highlighted the peak inflows, particularly the record-setting $422.5 million on July 16.

Despite a midweek correction that saw ETF inflows drop by 87%, the overall sentiment remained positive. This surge in Bitcoin ETF interest paralleled Bitcoin’s performance, which saw a 5% increase in the past 24 hours and a 14.4% rise over the week. At the time of writing, Bitcoin was trading at $66,541, with a market capitalization of $1.3 trillion. While this price is still nearly 10% below its all-time high, Bitcoin has outperformed the broader crypto market, which is up by 10.5% according to CoinGecko data.