New data shows that daily inflows into Bitcoin (BTC) exchange-traded funds (ETFs) on the spot market have reached a six-week high.
According to facts from crypto research platform SoSo Value, BTC ETFs saw inflows worth more than $422 million on July 16, the vast majority of which came from BlackRock’s IBIT ETF, which had a staggering $260.2 million.
Other ETFs that saw significant inflows include Fidelity’s FBTC, ARK Invest’s ARKB, VanEck’s HODL and Invesco’s BTCO, which traded at $61 million, $29 million, $22 million and $20.5 million, respectively.
Last month, it was reported that Bitcoin inflows from ETFs had the second-best day ever, exceeding $886 million. The all-time high was on March 12, when ETFs raked in more than $1 billion.
Bids to create ETFs based on the top crypto assets by market capitalization were approved by the US Securities and Exchange Commission (SEC) in January after years of denial, attracting billions of dollars to the crypto king.
The SEC was forced to reconsider its decision on BTC ETFs in the spot market after a judge ruled that they must remain consistent after approving futures BTC ETFs.
Since going public, Bitcoin ETFs have amassed more than $16.5 billion in cumulative information, according to SoSo Value.
Bitcoin is trading at $64,500 at the time of writing, down marginally over the past 24 hours.
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