- Bitcoin ETFs saw $383.6M inflows on July 19, with FBTC and IBIT leading the surge, reflecting increased investor interest.
- Bitwise’s BITB and VanEck’s HODL contributed significantly, with inflows of $44.6M and $41.8M, underscoring rising ETF appeal.
- Bitwise’s BITB net inflow surpasses $2.2B; Ethereum ETFs are expected to launch soon, potentially driving further market rallies.
On July 19, Bitcoin ETFs experienced notable inflows totalling $383.6 million. This figure marks the second-highest for the month, following a record $422.9 million on July 16. According to SoSoValue data, the largest beneficiaries of this inflow were the Fidelity Wise Origin Bitcoin Fund (FBTC) and BlackRock’s iShares Bitcoin Trust (IBIT), with $141 million and $116.2 million, respectively. This increase is a result of investors’ rising interest in exchange-traded funds that use Bitcoin.
Key ETF Players and Their Contributions
The Bitwise Bitcoin ETF (BITB) and VanEck Bitcoin Trust ETF (HODL) also contributed significantly. BITB recorded an inflow of $44.6 million, while HODL added $41.8 million. Despite smaller inflows compared to FBTC and IBIT, these figures are noteworthy and highlight the increasing appeal of Bitcoin ETFs across the market.
In contrast, Grayscale’s GBTC, after experiencing a series of negative flows, saw a positive turn with $20.3 million in new investments. GBTC currently holds $18.29 billion in net assets. Additionally, the Coinshares Valkyrie Bitcoin Fund ETF (BRRR) and Invesco’s BTCO attracted $7.6 million and $6.4 million, respectively. Franklin Templeton’s EZBC and WisdomTree’s BTCW concluded the day with $3.9 million and $1.8 million in inflows.
Bitwise’s Market Influence and Future Outlook
Hunter Horsley, CEO of Bitwise Invest, revealed that a number of U.S. wealth management branches have invested in Bitwise ETFs. Specifically, 20% of branches from a major U.S. bank have chosen Bitwise. This highlights a broader trend of traditional finance increasingly adopting Bitcoin and crypto ETFs.
Furthermore, Bitwise’s BITB has seen its net inflow exceed $2.20 billion amid a positive market sentiment. On the same day, BITB alone garnered $44.6 million in inflows. Bitwise’s CEO Horsley and CIO Matt Hougan are optimistic about future allocations, especially with the anticipated launch of Ethereum ETFs.
Hougan believes Ethereum may rise above $5,000, reflecting the popularity of Bitcoin exchange-traded funds. Ongoing debates centre on whether or not the introduction of the Ethereum ETF will cause people to “sell the news.”
