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The United States-based spot Bitcoin ETFs (exchange-traded funds) have been performing exceptionally well over the last few weeks, experiencing an influx of substantial capital during this timeframe. This favorable trend is hardly surprising, given that the recent outlook on crypto within the United States has reached unprecedented levels of optimism.
For instance — United States President Donald Trump officially approved the inaugural crypto legislation, the GENIUS Act, on Friday, July 18. On that same day, the spot Bitcoin ETFs garnered sufficient gains to extend their ongoing series of daily capital inflows.
Bitcoin ETFs Achieve $363 Million Daily Inflow to Conclude Previous Week
Per the latest market statistics, the US Bitcoin ETF market recorded a daily net inflow of $363.45 million on Friday, July 18. This latest influx represents the 12th consecutive day of positive capital flow for the crypto-related investment vehicles.
As anticipated, BlackRock’s iShares Bitcoin Trust (ticker IBIT) accounted for the majority of the capital observed on Friday, contributing $496.75 million in value throughout the day. The largest Bitcoin ETF by assets under management continues to impress, boasting a robust portfolio nearing $90 billion.
WisdomTree’s Bitcoin Trust (BTCW) was the only other Bitcoin ETF to document a positive inflow day to conclude the last week. Data from SoSoValue indicates that the exchange-traded fund recorded a $3.11 million capital inflow on Friday, marking its first activity following a series of withdrawals in late March and April.
A mere five additional Bitcoin ETFs recorded investor engagement on Friday, including Fidelity Wise Origin Bitcoin Fund (FBTC), Grayscale Bitcoin Trust (GBTC), ARK 21Shares ETF (ARKB), Bitwise Bitcoin ETF (BITB), and VanEck Bitcoin ETF (HODL). Collectively, these exchange-traded funds experienced a net total of $136.42 million in value withdrawn by the end of the week.
Source: SoSoValue
Nevertheless, this latest round of withdrawals did not prevent the Bitcoin ETFs from marking their 12th consecutive day of positive net inflows. Additionally, the crypto-associated products recorded their second successive week exceeding $2 billion in inflows, achieving a performance of $2.39 billion in the previous week.
Bitcoin Price Summary
The additional $2 billion achievement by the US-based Bitcoin ETFs did not transpire in isolation, as it coincided with a historic week for Bitcoin pricing. The value of BTC continued its ascent in the past week, soaring to a peak of $122,800 to establish a new all-time high.
As of this moment, the Bitcoin price hovers around the $118,000 mark, showing no substantial fluctuations in the last 24 hours. According to information from CoinGecko, the leading cryptocurrency has risen by over 12% in the past month.
The value of BTC on the daily chart | Source: BTCUSDT chart on TradingView
Featured image from iStock, chart from TradingView
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