Bitcoin ETFs Surge with $233M Inflows, Turning July Green
US spot Bitcoin exchange-traded funds (ETFs) saw significant inflows on Thursday, totaling $233.1 million. This is the largest daily influx in over three weeks, according to data from SoSoValue.
The iShares Bitcoin Trust (IBIT), managed by BlackRock, led the gains with a net inflow of $183.4 million, accounting for 78.7% of the day's total. Bitwise's BITB and Fidelity's FBTC also saw smaller but notable inflows of $20.7 million and $15.5 million respectively.
These inflows have pushed Bitcoin ETFs into positive territory for the week, with a net influx of $203.84 million so far. This is likely to continue into next week, barring any significant outflows on Friday.
The inflows also mark a turning point in July's performance, which has seen a total influx of $437.8 million. This is the first time since June that Bitcoin ETFs have experienced multibillion-dollar inflows.