BlackRock Spot Bitcoin ETF Returns Positive With $121.3M Inflows
Key Points:
- BlackRock spot Bitcoin ETF saw significant inflows of $121.3 million today and $187.2 million on July 8.
- Grayscale’s Bitcoin Trust lost $37.5 million, continuing its struggle amid June’s tough market for Bitcoin ETFs.
- Ethereum is also recovering as VanEck and 21Shares file new spot ETF registrations following SEC amendments.
After a stretch of lackluster performance, BlackRock spot Bitcoin ETF experienced a significant uptick, with $121.3 million in inflows today.
BlackRock Spot Bitcoin ETF Sees Major Inflows Amid Market Recovery
This follows another substantial inflow on July 8, amounting to $187.2 million, as reported by Farside Investors. The recent activity suggests a potential rebound for BlackRock spot Bitcoin ETF, which had been stagnant for some time.
Contrarily, Grayscale’s Bitcoin Trust (GBTC) faced continued challenges, suffering an outflow of $37.5 million during today’s trading session. June had been a particularly tough month for Bitcoin ETFs, characterized by more outflows than inflows, reflecting the bearish trend in Bitcoin prices. The spot Bitcoin ETFs saw nine days of outflows compared to ten days of inflows, with the outflow values being significantly higher.
The current bullish rally in spot Bitcoin ETFs coincides with Bitcoin’s price surge, which rebounded to $58,000 on Tuesday. This recovery follows a difficult week for Bitcoin, marked by negative news such as the US and German governments’ Bitcoin sales and the disruptive repayment process of Mt. Gox, which had driven Bitcoin to its lowest price in five months last week.
Ethereum ETFs Gain Momentum with New SEC Filings
Ethereum has also shown signs of recovery, trading around $3,080 over the past 24 hours. The resurgence comes as VanEck and 21Shares filed updated registration statements for their spot Ethereum ETFs.
VanEck renamed its product as The VanEck Ethereum Trust, leading the wave of amendments triggered by recent Securities Exchange Commission (SEC) requirements. These SEC S-1 and S-3 amendments impact asset managers’ abilities to issue spot Ether ETFs, distinguishing them from the 19b-4 filings that allow exchanges to list and trade these funds upon launch.
| DISCLAIMER: The information. on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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BlackRock Spot Bitcoin ETF Returns Positive With $121.3M Inflows
Key Points:
- BlackRock spot Bitcoin ETF saw significant inflows of $121.3 million today and $187.2 million on July 8.
- Grayscale’s Bitcoin Trust lost $37.5 million, continuing its struggle amid June’s tough market for Bitcoin ETFs.
- Ethereum is also recovering as VanEck and 21Shares file new spot ETF registrations following SEC amendments.
After a stretch of lackluster performance, BlackRock spot Bitcoin ETF experienced a significant uptick, with $121.3 million in inflows today.
BlackRock Spot Bitcoin ETF Sees Major Inflows Amid Market Recovery
This follows another substantial inflow on July 8, amounting to $187.2 million, as reported by Farside Investors. The recent activity suggests a potential rebound for BlackRock spot Bitcoin ETF, which had been stagnant for some time.
Contrarily, Grayscale’s Bitcoin Trust (GBTC) faced continued challenges, suffering an outflow of $37.5 million during today’s trading session. June had been a particularly tough month for Bitcoin ETFs, characterized by more outflows than inflows, reflecting the bearish trend in Bitcoin prices. The spot Bitcoin ETFs saw nine days of outflows compared to ten days of inflows, with the outflow values being significantly higher.
The current bullish rally in spot Bitcoin ETFs coincides with Bitcoin’s price surge, which rebounded to $58,000 on Tuesday. This recovery follows a difficult week for Bitcoin, marked by negative news such as the US and German governments’ Bitcoin sales and the disruptive repayment process of Mt. Gox, which had driven Bitcoin to its lowest price in five months last week.
Ethereum ETFs Gain Momentum with New SEC Filings
Ethereum has also shown signs of recovery, trading around $3,080 over the past 24 hours. The resurgence comes as VanEck and 21Shares filed updated registration statements for their spot Ethereum ETFs.
VanEck renamed its product as The VanEck Ethereum Trust, leading the wave of amendments triggered by recent Securities Exchange Commission (SEC) requirements. These SEC S-1 and S-3 amendments impact asset managers’ abilities to issue spot Ether ETFs, distinguishing them from the 19b-4 filings that allow exchanges to list and trade these funds upon launch.
| DISCLAIMER: The information. on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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