NEW YORK, July 23, 2024 - According to Farside Investors, spot Bitcoin ETFs saw inflows of $533.6 million on July 22, marking the highest level since $886.6 million on June 4. This represents the third consecutive week of positive inflows for these investment products.

The bulk of the inflows, totaling $526.7 million, came from BlackRock’s iShares Bitcoin Trust (IBIT). This recent surge has brought IBIT’s total inflows close to $19.5 billion.

Other Bitcoin ETFs also experienced inflows: the Fidelity Wise Origin Bitcoin Fund (FBTC) attracted $23.7 million, the Invesco Galaxy Bitcoin ETF (BTCO) saw $13.7 million, and the Franklin Bitcoin ETF (EZBC) received $7.9 million.

However, despite the generally positive market sentiment, the VanEck Bitcoin Trust (HODL) reported $38.4 million in outflows. The remaining spot BTC ETFs, including the Grayscale Bitcoin Trust (GBTC), remained stable. Overall, the total assets in these investment products now stand at $17.58 billion.

While Bitcoin ETFs experienced a bullish week, the price of Bitcoin itself declined by 1.3% over the past 24 hours. As of now, Bitcoin is trading at $66,650 with a market capitalization of $1.31 trillion.

In a related development, spot Ethereum ETFs in the U.S. are set to commence trading today, having received approval from the SEC. Among those approved are ETFs from BlackRock, Fidelity, VanEck, 21Shares, and Bitwise.