US spot Bitcoin exchange-traded funds (ETFs) have been popular, with investors pumping in $2 billion (£1.56bn) in July alone. This surge reaffirms the significance of Bitcoin as the primary digital currency that remains popular among institutional and individual investors alike.
US Bitcoin ETFs Now Hold More Than 900,000 BTC
According to Farside, there have been more than $2 billion (£1.56bn) in inflows into US-traded spot Bitcoin ETFs since early July. The current net inflows for the second half of the month were north of $1bn (£780mn) in 11 funds, which happened for three weeks in a row.
Notably, these ETFs got more than $300 million (£230mn) in a week, with a record single inflow of $422 (£330mn) with the highest inflow of more than 5 million on July 16.
Moreover, the ETFs have achieved the latest industry record for the last six months with a $17 billion (£13bn) net fund addition buoyant and outdistancing the Bloomberg analysts estimated one-year $15 billion (£11.7bn) target.
In an interview, Shubh Varma, co-founder and CEO of Hyblock Capital, also pointed out that these numbers define the economic inflows, demonstrating the increasing market demand and the interest of newly established investors.
“What is even more apparent is that most of these inflows have happened in the last month, indicating the recent increase in the interest of investors,” Varma added.
Such a record increase has seen the overall amount of US-listed ETFs holding BTC hovering past 900,000 BTC or $60 billion (£47bn). The President of the ETF Store, Nate Geraci, said that these holding accounts represent 4.3% of the total Bitcoin supply.
Top Bitcoin ETF Holders
It became clear that BlackRock’s IBIT owns the most Bitcoins, 327,182 worth $21.79 billion (£17bn). Next comes Grayscale, with its GBTC holding 272,193 BTC, which is equivalent to $18.1 billion (£14bn). Buterin and Fidelity almost reached 1 billion BTC, with FBTC containing over 180K BTC worth more than $12 billion (£9.35bn).
Ultimately, these inflows into US spot Bitcoin ETFs in July demonstrate how institutional and individual investors are increasingly recognising and valuing digital currencies. The cryptocurrency market is still expanding, with US-listed exchange-traded funds holding more than 900,000 BTC or 4.3% of the total amount of Bitcoin in circulation.
Huge holdings of industry titans like BlackRock and Grayscale further enhance the significance and stability of Bitcoin in financial markets. These trends indicate a growing interest in Bitcoin investment products as the sector develops, opening the door for a possible increase in market participation and innovation in the digital currency space.
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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used for legal, tax, investment or financial advice.
