Blackrock Drives Bitcoin ETFs to Second Straight Day of Inflows

Bitcoin ETFs saw their second consecutive day of inflows on Thursday, bringing in $233.13 million. This growth is largely attributed to Blackrock's IBIT, which led the charge with a massive $183.38 million influx, accounting for nearly four-fifths of the total.

The dominance of Blackrock in the market was evident, as its fund drew about $350 million in net inflows during July, helping to lead the category's recovery. However, this monthly gain is still relatively small compared to the fund's reported outflows of $1.41 billion in May and $3.55 billion in June.

Others also saw significant gains, including Bitwise's BITB with $20.74 million, Fidelity's FBTC with $15.50 million, and Morgan Stanley's MSBT with $7.42 million. ARK 21Shares' ARKB added a further $1.50 million.

But it wasn't just Bitcoin that saw growth - Ether ETFs also recorded a net inflow of $13.29 million, led by Blackrock's ETHA with $16.24 million. XRP ETF assets reached $1 billion as the fund attracted $5.98 million in new capital.

The broader market seems to be showing signs of increased risk appetite, with Bitcoin leading the way and other altcoins like Ether, XRP, and Solana also seeing gains. However, it's worth noting that HYPE ETFs saw no net flows, pausing a five-day outflow streak at $260.44 million.