US Bitcoin ETFs Attract $2 Billion in July, Holdings Surpass 900,000 BTC

In Brief:

US spot Bitcoin ETFs attracted $2 billion in new funds in July, pushing total holdings to over 900,000 BTC.

The surge in inflows highlights growing investor confidence and participation, with significant inflows recorded over the past 30 days.

US Bitcoin ETFs Attract $2 Billion in July, Holdings Surpass 900,000 BTC

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US spot Bitcoin exchange-traded funds (ETFs) have seen a massive influx of $2 billion in new funds this July. This trend underscores Bitcoin’s strong appeal to both institutional and retail investors, solidifying its position as a premier digital asset.

US Bitcoin ETFs Now Hold More Than 900,000 BTC

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Market data from Farside Investors indicates that US-traded spot Bitcoin ETFs have drawn in over $2 billion since early July. In the past week alone, these ETFs experienced a cumulative net inflow exceeding $1 billion across 11 funds, marking the third week in a row of positive net inflows.

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Three instances of inflows surpassing $300 million were recorded this week, with a single-day peak of $422.5 million on July 16, the highest in six weeks.

Surge in Inflows and Market Confidence

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The ETFs have now hit a new milestone, accumulating $17 billion in net flows over the past six months, outpacing Bloomberg analysts’ 12-month estimate of $15 billion.

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Shubh Varma, Co-Founder and CEO of Hyblock Capital, highlighted the significance of these figures in an interview with BeInCrypto, noting that the recent inflows reflect a strong market demand and renewed investor interest.

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“Most of these inflows happened in the last 30 days, signaling a recent surge in investor interest.

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This indicates growing confidence and participation, which can drive up prices and market capitalization, thus boosting overall market growth,” Varma explained.

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This impressive surge has brought the total BTC held by US-listed ETFs to over 900,000 BTC, valued at more than $60 billion. Nate Geraci, President of the ETF Store, mentioned that these holdings account for 4.3% of Bitcoin’s total supply.