Recently, Bitcoin Exchange-Traded Funds (ETFs) in the US have seen significant inflows, a trend that’s quite encouraging, especially considering the current positive sentiment surrounding cryptocurrency in the country.
A notable event happened when US President Donald Trump signed the Genius Act, marking a milestone as the first cryptocurrency legislation. This occurred on July 18th, coinciding with a surge in Bitcoin ETF investments that day.
Bitcoin ETFs Generate $363 Million in Daily Inflows
On July 18th, the total net inflows for Bitcoin ETFs reached $363.45 million, according to the latest market data. This marked the twelfth consecutive day of positive capital inflows for crypto-related investments.
BlackRock’s Ishares Bitcoin Trust was the major contributor, adding a substantial $496.75 million that day. It remains the largest Bitcoin ETF on the market, boasting nearly $90 billion in managed assets.
Another ETF, WisdomTree’s Bitcoin Trust, also experienced positive inflows for the week, accumulating $31.1 million on Friday—its first positive movement after a wave of withdrawals back in March and April.
Five other Bitcoin ETFs saw activity on that day, including the Fidelity Wise Origin Bitcoin Fund, Grayscale Bitcoin Trust, ARK 21Shares ETF, Bitwise Bitcoin ETF, and Vaneck Bitcoin ETF. Together, these funds experienced a total withdrawal of $136.42 million to close the week.
Despite some withdrawals, Bitcoin ETFs continued to register positive inflows for a twelfth straight day. Interestingly, crypto-linked products recorded over $2 billion in inflows for the second week in a row, totaling around $23.9 billion last week.
Bitcoin Price Overview
The performance of Bitcoin ETFs is closely tied to an impressive week for Bitcoin prices. Last week, BTC surged, reaching a record high of $122,800.
As of now, Bitcoin prices have settled around $118,000 without any significant changes over the past 24 hours. Data from Coingecko indicates that leading cryptocurrencies have risen more than 12% in the last month.
