{"id":1475654,"date":"2024-07-06T19:10:00","date_gmt":"2024-07-06T23:10:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1475654"},"modified":"2024-07-06T19:10:00","modified_gmt":"2024-07-06T23:10:00","slug":"spot-bitcoin-etfs-see-record-inflows-post-july-4th-dip","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/spot-bitcoin-etfs-see-record-inflows-post-july-4th-dip\/1475654\/","title":{"rendered":"Spot Bitcoin ETFS See Record Inflows Post-July-4th-Dip"},"content":{"rendered":"

Spot Bitcoin ETFS See Record Inflows Post-July-4th-Dip<\/span><\/p>\n

\n

Authored by Amaka Nwaokocha via CoinTelegraph.com,<\/em><\/a><\/p>\n

Spot Bitcoin ETFs experienced a surge in inflows on July 6, following the recent U.S. Independence Day, during which Bitcoin\u2019s price dropped below $54,000.<\/p>\n

<\/a><\/p>\n

According<\/a>\u00a0to Farside monitoring, this is their largest net inflow in a month, with a remarkable $143.1 million flowing into these financial products.<\/strong><\/p>\n

<\/a><\/strong><\/p>\n

Strong inflows<\/h2>\n

The Fidelity Bitcoin ETF (FBTC) led the inflows with an impressive $117 million<\/strong>, highlighting strong investor confidence in the fund. Following FBTC, the Bitwise Bitcoin ETF (BITB) recorded a net inflow of $30.2 million<\/strong>, while the ARKB and HODL ETFs saw inflows of $11.3 million and $12.8 million, respectively.<\/p>\n

Conversely, the Grayscale Bitcoin Trust (GBTC) experienced a net outflow of $28.6 million, starkly contrasting the positive trend across other spot Bitcoin ETFs.<\/p>\n

<\/a><\/p>\n

Spot Bitcoin ETFs\u00a0bounced back strongly.\u00a0 \u00a0 Source:\u00a0Farside Investors<\/a><\/em><\/p>\n

Despite the recent market turbulence, the substantial inflows into these ETFs suggest that institutional investors and large-scale buyers are taking advantage of the dip to accumulate Bitcoin at lower prices.<\/p>\n

<\/a><\/p>\n

Prime opportunity to buy Bitcoin<\/h3>\n

Hunter Horsley, CEO of Bitwise Asset Management,\u00a0highlighted<\/a>\u00a0in a post on X social platform his team\u2019s efficiency in acquiring Bitcoin, managing to do so at a cost of less than half a basis point.<\/p>\n

Horsley also emphasized the strong outlook for Bitcoin, suggesting that the current market conditions present a valuable buying opportunity for both new and existing investors.<\/p>\n

\u201cThe outlook for Bitcoin has never been stronger. For many who don\u2019t yet have exposure, this week is a chance to buy the dip,\u201d <\/strong><\/em>he stated.<\/p>\n

During the first week of July, BITB registered inflows exceeding $66 million, increasing its total Bitcoin holdings to over 38,000. Despite short-term volatility, this growth shows continued confidence in Bitcoin\u2019s long-term potential.<\/p>\n

Renowned Bitcoin critic Peter Schiff also\u00a0offered<\/a>\u00a0his perspective on the resilience of Bitcoin ETF investors. Despite recent market fluctuations, Schiff observed that these investors remain committed to holding their assets, showing no signs of panic.<\/p>\n

\u201cSo far, there\u2019s no sign of panic. It will likely take a much larger drop in Bitcoin before they finally capitulate,\u201d<\/strong><\/em> Schiff commented.<\/p>\n

He further predicted that a significant sell-off could occur soon, potentially leading to a capitulation among Bitcoin holders.<\/p>\n

Bitcoin fell to $55,200 on Coinbase after the collapsed Japanese crypto exchange Mt. Gox\u00a0transferred<\/a>\u00a047,229 Bitcoin – worth $2.71 billion at current prices – to a new wallet address in its first major transaction since May.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSat, 07\/06\/2024 – 15:10<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/crypto\/spot-bitcoin-etfs-see-record-inflows-post-july-4th-dip<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Spot Bitcoin ETFS See Record Inflows Post-July-4th-Dip Authored by Amaka Nwaokocha via CoinTelegraph.com, Spot Bitcoin ETFs experienced a surge in inflows on July 6, following…<\/p>\n","protected":false},"author":0,"featured_media":1475655,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1475654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1475654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1475654"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1475654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1475655"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1475654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1475654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1475654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}