Spot ETFs for Bitcoin Witness Considerable Inflows
Foresight News reports that data from SoSoValue shows that last week, from July 22 to July 26, there was a net inflow of $535 million into the Bitcoin spot ETFS. The net inflow was $51.6572 million on July 26 alone. Nonetheless, the ETF of Greyscale, GBTC, experienced a net withdrawal of $120 million throughout the week, surpassing its historical net outflow of $18.81 billion.
BlackRock’s ETF IBIT was the Bitcoin spot ETF with the largest net inflow last week, with a $758 million weekly inflow. IBIT has historically received a total net inflow of $19.73 billion. With a weekly net influx of $29.61 million, Fidelity’s ETF FBTC came next, bringing its historical total net inflow to $9.99 billion.The entire net asset value of Bitcoin spot ETFs as of the reporting date is $62.095 billion. ETFs have a net asset ratio of 4.67%, or their market value divided by the overall market value of Bitcoin, and they have a cumulative net inflow of $17.587 billion in the past.
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Source : Binance