blockchainreporter.net
Bitcoin Exchange-Traded Funds (ETFs) continue to see positive net inflows, with a reported $79 million on July 11, 2024. This marks the fifth consecutive day of positive net inflow, although the volume has dipped below the $100 million mark.
🚨 $BTC #ETF Net Inflow July 11, 2024: +$79M!
— Spot On Chain (@spotonchain) July 12, 2024
• The net inflow remains positive for 5 consecutive days, but the volume has dropped below $100M.
• #BlackRock (IBIT) saw the biggest inflow yesterday at $72.1M, followed by #Fidelity (FBTC) with a $32.7M inflow.
• #Grayscale… pic.twitter.com/L9Q4agInPL
BlackRock (IBIT) led the pack with the largest inflow, recording $72.1 million. Fidelity (FBTC) followed with an inflow of $32.7 million. Despite the overall positive trend, Grayscale (GBTC) experienced a notable outflow of $37.7 million, which is 4.6 times higher than the previous day’s outflow.
Bitcoin ETFs Filling the German Sell-offs Gap
Analysts note that
ETFs are acquiring nearly the same amount of Bitcoin that Germany sells, highlighting a significant intergenerational transfer of wealth. This phenomenon underscores the evolving dynamics of global finance and the growing influence of cryptocurrency markets.
BREAKING: U.S. #Bitcoin ETFs are scooping up almost exactly the same amount of #Bitcoin that is sold by #Germany.
— Carl ₿ MENGER ⚡️🇸🇻 (@CarlBMenger) July 9, 2024
We are witnessing a real time intergenerational transfer of wealth between nations. What a time to be alive. pic.twitter.com/6HPv2A12mF
The continued positive net inflows into Bitcoin ETFs, despite the slight decline in volume, indicate sustained investor interest. The substantial inflows into BlackRock and Fidelity ETFs, contrasted with Grayscale’s increased outflows, paint a complex picture of market movements. This period is seen as a pivotal moment in the financial landscape, illustrating the profound impact of cryptocurrencies on wealth distribution across generations and nations.