US spot Bitcoin exchange-traded funds (ETFs) reported daily net inflows of $301 million on Monday, marking the seventh consecutive day of positive flows.
US Spot Bitcoin ETFs See $300 Million in Positive Flows for Seventh Consecutive Day
The 11 spot Bitcoin ETFs in the US have generated a total of $16.11 billion in net inflows since their launch in January.
BlackRock's iShares Bitcoin Trust (IBIT), the largest spot Bitcoin ETF by net asset value, led the way with net inflows of $117.25 million.
The fund also saw the highest trading volume of the day, reaching $1.24 billion. Ark Invest and 21Shares' ARKB followed closely behind with a net inflow of $117.19 million.
Other notable entries included Fidelity's FBTC at $36.15 million and Bitwise's BITB at $15.24 million. VanEck, Invesco, Galaxy Digital and Franklin Templeton ETFs also reported net inflows.
In contrast, Grayscale's GBTC and ETFs of Valkyrie, WisdomTree and Hashdex recorded zero flows on Monday.
Overall, $2.26 billion worth of transactions took place in US spot bitcoin funds; This figure is significantly lower than peak trading volumes, which exceeded $8 billion in a few days in March.
BlackRock co-founder and CEO Larry Fink acknowledged bitcoin's growing legitimacy as a financial instrument in an interview with CNBC, admitting that his earlier skepticism was misplaced.
In other developments, spot Ethereum ETFs are expected to launch on July 23, sources from two US issuers confirmed.
*This is not investment advice.