US Bitcoin ETFs See $1.1 Billion Inflow This Week, BTC Holdings At All-Time High

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As a researcher with a background in financial markets and cryptocurrencies, I find the recent developments in the Bitcoin ETF market quite intriguing. The heavy accumulation of spot Bitcoin ETFs in the US, resulting in inflows worth over $1.1 billion this week, has been a noteworthy trend. This has not only prevented major volatility in the Bitcoin price but also led to new all-time highs in terms of total Bitcoin holdings by these ETFs.

This week, the German government actively sold securities. meanwhile, US Bitcoin exchange-traded funds (ETFs) experienced significant buying, amassing over $1.1 billion in new investments. Consequently, Bitcoin’s price has remained relatively stable, currently trading at $57,924 – a 1.21% increase – with a market capitalization of $1.142 trillion.

Bitcoin ETF Holdings Hit All-Time High

I’ve analyzed the trends in Bitcoin Exchange-Traded Funds (ETFs) in the US market over the past week. Notably, these funds experienced consecutive inflows for six consecutive trading sessions. This weekly intake marks the largest since May this year. According to HODL15Capital’s data, the total Bitcoin holdings by US-based ETFs have reached an unprecedented high of 888,607 BTC.

Updated USA Bitcoin ETF holdings (including today’s inflows).
New all-time high of 888,607 BTC held by the U.S. ETFs
— HODL15Capital (@HODL15Capital) July 13, 2024

Starting from July 12, Fridays total take-on for US Bitcoin Exchange-Traded Funds (ETFs) amounted to an impressive $311 million. BlackRock’s IBIT took the lead with a significant addition of $121 million. Following closely was Fidelity’s FBTC, contributing $115 million on that day. No Bitcoin ETFs in the spot market recorded any outflows, with Grayscale’s GBTC included.

During the past week, the BlackRock Bitcoin Investment Trust (IBIT) attracted a net investment inflow of $523 million, making it the frontrunner among cryptocurrency ETFs. In contrast, Fidelity’s Wise Origin Bitcoin Index Fund (FBTC) gained $356 million in net inflows during the same period. As a result, BlackRock IBIT now manages assets totaling over $18.2 billion, while FBTC has approximately $9.7 billion under management since its inception.

Total Global BTC ETFs Holdings At All-Time High

Global Bitcoin exchange-traded funds (ETFs), including those based in the US, have collectively held a record-breaking amount of approximately 1.05 million Bitcoins as of now.

The Hong Kong Bitcoin ETFs have quietly amassed more Bitcoin, reaching a new peak of 4,941 coins in their possession.

Bitcoin held by the Hong Kong Bitcoin ETFs hits record high

— HODL15Capital (@HODL15Capital) July 12, 2024

It’s intriguing that Germany’s government sold off its entire Bitcoin stash over the past month, yet Bitcoin’s price has held up due to increased inflows into ETFs. This indicates a strong institutional appetite for regulated bitcoin products, even amidst current market volatility.

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2024-07-13 06:42