Bitcoin ETF

Bitcoin

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Spot

Grayscale Bitcoin Trust

<ul> 
 <li>Spot Bitcoin ETFs attract $143.1M in inflows, showing strong market confidence.</li> 
 <li>Major ETFs like FBTC and BITB seize on price dip to boost holdings.</li> 
 <li>Despite volatility, strategic buyers and institutions remain bullish on Bitcoin.</li> 
</ul> 
Following a notable dip in Bitcoin prices below $54,000 on July 4th, U.S.-based Spot Bitcoin ETFs have witnessed substantial investment surges. According to <a href="https://farside.co.uk/?p=997" target="_blank" rel="noreferrer noopener">Farside Investors</a>, these funds saw the highest monthly inflow on July 6th, amounting to $143.1 million, indicating strong investor confidence amidst market uncertainties. 
The Fidelity Wise Origin Bitcoin Fund (FBTC) led the pack with an impressive inflow of $117 million. Close behind, the Bitwise Bitcoin ETF (BITB) added $30.2 million. Other funds such as the ARK 21Shares Bitcoin ETF (ARKB) and the VanEck Bitcoin Trust (HODL) also attracted capital with new investments of $11.3 million, and $12.8 million respectively.&nbsp; 
On the flip side, the Grayscale Bitcoin Trust (GBTC) had a net outflow of $28.6 million, this going against the trend that other ETFs have posted. 
Investors Leverage Lower Prices&nbsp; 
Even though the market has recently been rather volatile, institutional investors and big buyers are buying more Bitcoins to strengthen their positions. Hunter Horsley, the Chief Executive Officer at Bitwise Asset Management also pointed to the fact that this is the right time to purchase during the dip. He remarked, “The outlook for Bitcoin has never been stronger. For many who don’t yet have exposure, this week is a chance to buy the dip.” 
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 ~$30,000,000 inflows into <a href="https://twitter.com/search?q=%24BITB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BITB</a> today. Bitwise PM team efficiently purchased Bitcoin at less than half of 1 basis point of cost. Cumulatively this week <a href="https://twitter.com/search?q=%24BITB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BITB</a> had &gt;$66,000,000 of inflows, and now holds over 38,000 Bitcoin for investors. The outlook for Bitcoin has never been…— Hunter Horsley (@HHorsley) <a href="https://twitter.com/HHorsley/status/1809350708384391504?ref_src=twsrc%5Etfw">July 5, 2024</a>
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During the first week of July, BITB alone registered inflows exceeding $66 million, elevating its total Bitcoin holdings to over 38,000 BTC. This influx underscores the enduring confidence in Bitcoin’s long-term prospects, even as the market faces short-term price adjustments. 
Market Analysts&nbsp; 
<a href="https://x.com/PeterSchiff/status/1809329677191782871" target="_blank" rel="noreferrer noopener">Peter Schiff,</a> a well-known Bitcoin analyst, shared insights on the resilience of Bitcoin ETF investors amidst the market’s ebb and flow. “So far, there’s no sign of panic. It will likely take a much larger drop in Bitcoin before they finally capitulate,” he commented, suggesting that a significant sell-off might be on the horizon, potentially testing investor resolve. 
The recent transactional activities follow the historical move by the collapsed Japanese cryptocurrency exchange Mt. Gox, which transferred 47,229 Bitcoin to a new wallet address, influencing Bitcoin’s price to settle at $55,200 on Coinbase. 
Market Sentiments Amidst Challenges 
The concerted inflows into U.S.-based Spot Bitcoin ETFs post-July 4th exemplify a market that, while susceptible to fluctuations, remains buoyed by strong institutional support and strategic buyer interest. As the landscape for digital assets continues to evolve, the actions of seasoned investors and their substantial contributions to these funds will likely play a pivotal role in shaping the future trajectory of Bitcoin and the broader cryptocurrency market. 
<h4 class="wp-block-heading" id="h-read-also">Read Also:</h4> 
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links"> 
 <li><a href="https://cryptonewsland.com/u-s-spot-bitcoin-etfs-maintain-15-day-inflow-streak-with-105m/">U.S. Spot Bitcoin ETFs Maintain 15-Day Inflow Streak with $105M</a></li> 
 <li><a href="https://cryptonewsland.com/us-spot-bitcoin-etfs-see-largest-net-inflows-in-three-weeks/">US Spot Bitcoin ETFs See Largest Net Inflows in Three Weeks</a></li> 
 <li><a href="https://cryptonewsland.com/crypto-markets-rally-june-opens-with-2-billion-inflows-ethereum-shines/">Crypto Markets Rally: June Opens with $2 Billion Inflows, Ethereum Shines</a></li> 
 <li><a href="https://cryptonewsland.com/bitcoin-etfs-hit-second-highest-inflows-day-with-886-6-million/">Bitcoin ETFs Hit Second-Highest Inflows Day with $886.6 Million</a></li> 
 <li><a href="https://cryptonewsland.com/us-spot-bitcoin-etfs-draw-12-million-in-net-inflows-despite-reduced-pace/">US Spot Bitcoin ETFs Draw $12 Million in Net Inflows Despite Reduced Pace</a></li> 
</ul> 
The post <a href="https://cryptonewsland.com/u-s-bitcoin-spot-etfs-see-record-143-1m-inflows-after-price-dip/">U.S. Bitcoin Spot ETFs See Record $143.1M Inflows After Price Dip</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.

U.S. Bitcoin Spot ETFs See Record $143.1M Inflows After Price Dip

Crypto News Land

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