11 US spot Bitcoin exchange-traded funds (ETFs) experienced a significant increase in net inflows on Monday, totaling $129.45 million. This marks the fifth consecutive day of positive flows and the largest fund pickup since June 7.
US Spot Bitcoin ETFs Report Net Inflows of $130 Million, Largest Inflow in Last Three Weeks
Fidelity's FBTC reported the highest inflow at $65 million. Following it closely, Bitwise's BITB recorded a net inflow of 41 million dollars.
Ark Invest and 21Shares' ARKB recorded a net inflow of $13 million. Meanwhile, funds from Invesco, Galaxy Digital, VanEck and Franklin Templeton reported relatively small inflows of around or below $5 million each.
Interestingly, the two largest spot Bitcoin ETFs by net asset value, BlackRock's IBIT and Grayscale's GBTC, saw no inflows on Monday.
The combined trading volume of these 11 Bitcoin funds reached approximately $1.36 billion on Monday. Since their inception in January, the ETFs have generated a total of $14.65 billion in net inflows.
Both Bitcoin and Ethereum typically outperform in July due to historically positive seasonality, QCP Capital analysts noted in a report published Monday.
Coinbase analysts also highlighted the positive seasonal trend observed in July, suggesting that it will be a potentially positive month for the cryptocurrency market.
*This is not investment advice.