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Bitcoin ETF Net Inflow: $79 Million on July 11, 2024

source-logo  blockchainreporter.net 12 July 2024 12:01, UTC

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!

• 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

— Spot On Chain (@spotonchain) July 12, 2024

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.

We are witnessing a real time intergenerational transfer of wealth between nations. What a time to be alive. pic.twitter.com/6HPv2A12mF

— Carl ₿ MENGER ⚡️🇸🇻 (@CarlBMenger) July 9, 2024

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.

blockchainreporter.net