Bitcoin ETF Market Sees Significant Inflows

By Kester Odero

July 10, 2024 11:30 AM

Bitcoin News Crypto Market News

Bitcoin ETF Market Sees Significant Inflows

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1. Grayscale Experiences Outflows

The Bitcoin exchange-traded fund (ETF) market witnessed a substantial net inflow of $216 million on July 9, 2024. This marks the third consecutive trading day of positive inflows, all with notable amounts.

BlackRock’s Bitcoin ETF (IBIT) continued its impressive performance by leading the leaderboard with a significant inflow of $121 million. This consistent influx highlights investor confidence in BlackRock’s offering.

🚨 $BTC #ETF Net Inflow July 9, 2024: +$216M!

• The net inflow has been positive for 3 consecutive trading days (all with high inflows). 🎉

• #BlackRock (IBIT) continued leading the leaderboard with another large inflow of $121M.

• #Grayscale (GBTC), however, saw an outflow… pic.twitter.com/nxCeYGacJt
— Spot On Chain (@spotonchain) July 10, 2024

Grayscale Experiences Outflows

Contrastingly, Grayscale’s Bitcoin Trust (GBTC) faced an outflow of $37.5 million, following a brief period of inflow the previous day. This pattern indicates fluctuating investor sentiment towards Grayscale’s ETF.

The overall trend remains positive for Bitcoin ETFs, with three consecutive days of high net inflows reflecting strong investor interest and confidence in the cryptocurrency market. The recent net inflow figures for Bitcoin ETFs, particularly BlackRock’s dominant position, suggest robust investor engagement in the market. However, Grayscale’s outflows indicate varying investor preferences and market dynamics.

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AUTHOR

Kester Odero

Kester is an experienced freelance content writer. His focus is primarily on blockchain technology and cryptocurrency. One might even refer to him as a "blockchain enthusiast." He has been following advancements in the crypto and blockchain area for several years, researching and writing his insights in the media. In addition to being a skilled content writer, Mushumir is also knowledgeable in SEO and digital marketing. He aspires to succeed as a content creator in the digital realm, dealing with customers in the finance and tech industries to generate traffic through engaging taglines and content. Mushumir enjoys traveling, reading, and playing cricket when he is not writing. He now works as a news and article writer for BlockchainReporter.

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