Markets
US Bitcoin ETFs attract over $2 billion in inflows in two weeks amid renewed market optimism
Key points to remember
- US spot Bitcoin ETFs saw strong inflows this week, with the funds collectively capturing over $1 billion.
- Cryptocurrency market sentiment turns positive, with the Crypto Fear and Greed Index reaching 74.
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Bitcoin spot exchange-traded funds (ETFs) in the United States have attracted more than $2 billion from investors in the past two weeks amid renewed market optimism, with the Crypto Fear and Greed Index hitting its highest level since late June, according to data of SoSoValue and Alternative.me.
(Note: ARKB Friday feeds are not included as no updates were observed at the time of reporting).
Data from Alternative.me shows that the Cryptocurrency Fear and Greed Index jumped 14 points to 74 on Saturday. The increase in the index score came as the price of Bitcoin (BTC) hit a high of $66,800 on Friday night, according to TradingView. data watch.
Last week, the index remained in the “fear” zone. Despite the bearish market sentiment, the US cash market Bitcoin ETFs have attracted over $1 billion in entries during the week.
Building on this success, US spot Bitcoin ETFs continued to attract substantial flows this week.
Bitcoin ETFs started the week on a positive note with A capital of 301 million dollars The funds were paid out on Monday. These funds have collectively garnered over $1 billion in weekly inflows (excluding ARKB’s Friday flows due to no updates), with Tuesday witnessing the largest daily inflow influx of more than $422 million.
This week alone, BlackRock’s IBIT led the way with about $706 million in inflows, according to data from SoSoValue and Farside.
IBIT’s inflows have surpassed $1.2 billion over the past two weeks, representing 50% of the total flows across eleven spot funds during that period. The fund remains the largest spot Bitcoin ETF with nearly $22 billion in assets under management (AUM) as of July 19.
Fidelity’s FBTC saw around $244 million in inflows this week, while Bitwise’s BITB brought in over $70 million. Other gains were also seen on ARK Invest’s ARKB, VanEck’s HODL, Invesco’s BTCO, Franklin Templeton’s EZBC, Valkyrie’s BRRR, and WisdomTree’s BTCW.
Despite over $20 million in net inflows reported on Friday, Grayscale’s GBTC saw around $56 million in outflows.
With Friday’s gain (excluding ARKB), these ETFs have seen sustained inflows for eleven consecutive trading days.
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