$BTC ETF sees $533M in inflows just before $ETH ETF launch

$BTC ETF inflows reached $533 million ahead of the $ETH ETF launch, reflecting a strong interest in spot Bitcoin exchange-traded funds in the U.S. According to data from Farside Investors, these ETFs saw $533.6 million in inflows on July 22, the highest since June 4’s $886.6 million. This marks the third consecutive week of inflows for these investment products.

• Most inflows, totaling $526.7 million, came from BlackRock’s iShares Bitcoin Trust (IBIT), bringing its total close to $19.5 billion.
• Fidelity Wise Origin Bitcoin Fund (FBTC), Invesco Galaxy Bitcoin ETF (BTCO), and Franklin Bitcoin ETF (EZBC) saw inflows of $23.7 million, $13.7 million, and $7.9 million, respectively.
• In contrast, VanEck Bitcoin Trust (HODL) registered $38.4 million in outflows.

Despite the market’s bullish sentiment, Bitcoin’s price fell by 1.3% in the past 24 hours, trading at $66,650 with a market capitalization of $1.31 trillion at the time of writing.

Spot Ethereum ETFs in the U.S. are also expected to start trading today, following approval from the U.S. SEC for applications from BlackRock, Fidelity, VanEck, 21Shares, and Bitwise. The launch of these ETH ETFs is anticipated to further impact the market dynamics.