Bitcoin ETFs are seeing a surge in popularity, with a daily net inflow of $301 million recorded on July 15th. This marks the seventh consecutive day of positive inflows for these ETFs, as the broader market continues to recover.
Since the beginning of the year, Bitcoin ETFs have attracted a total of $16.11 billion in net inflows, according to data from SoSoValue. BlackRock’s IBIT was the top performer on July 15th, with net inflows of $117.25 million. Ark Invest and 21Shares’ ARKB followed closely behind, each recording net inflows of over $100 million.
Other ETFs, such as Fidelity’s FBTC and Bitwise’s BITB, also saw significant inflows on Monday. Overall, a total of $2.26 billion was traded on that day, although the trading volume was lower than in March.
The recent recovery in Bitcoin’s price has been attributed to various factors, including fears of selling pressure from Mt. Gox and the German government. However, the recent assassination attempt on former US President Donald Trump, a pro-crypto figure, seems to have sparked a positive trend in the market. Bitcoin has surged more than 9% in the past week and is currently trading just below $64,000.
Veteran trader Peter Brandt has expressed optimism about Bitcoin’s price trajectory, suggesting a potential major rally in the near future. He highlighted a pattern that he believes indicates a continued upward trend for Bitcoin, but cautioned that a close below $56,000 could negate this bullish view.
Overall, the outlook for Bitcoin and the broader cryptocurrency market remains positive, with experts forecasting further gains in the coming days. As investors continue to flock to Bitcoin ETFs, the market is likely to see increased activity and potential opportunities for growth.