Bitcoin ETFs score highest net inflows in 30 days amid volatility from Mt. Gox unlocks

After two consecutive trading days of net outflows, U.S.-based spot Bitcoin ETFs experienced the largest net inflows since June 6 on July 5, primarily driven by gains in Fidelity’s FBTC fund, according to Coinglass data.

Despite Bitcoin’s price recently dropping to $54,000, a 25% decline from its March peak of over $73,000, spot Bitcoin ETFs saw their strongest inflows in a month on July 5, totaling $143 million. Four of the top 11 spot Bitcoin ETFs recorded inflows exceeding 3,000 BTC, worth approximately $172 million at current prices. About 80% of this sum was directed to Fidelity’s FBTC fund. The remaining inflows were distributed among Bitwise (BITB), Ark 21Shares (ARKB), and VanEck (HODL), while Grayscale’s GBTC experienced an outflow of 500 BTC, worth about $29 million. Other ETFs saw no significant changes.

The net inflow value on July 5 was the highest single-day amount since June 6. Early June saw significant ETF inflows, with $1.7 billion entering over four days from June 4 to June 7. This period included a record-breaking 18-day streak of net inflows, though June 10, the next trading day, saw $65 million in outflows.

BlackRock’s iShares Bitcoin Trust (IBIT) remains the top ETF with over $17 billion in assets under management (AUM), despite no major inflows or outflows on July 5. The ETF inflows may indicate consumer optimism about Bitcoin’s price, even amid the Mt. Gox sell-off, as previously reported by The Block.

“The outlook for Bitcoin has never been stronger. For many who don’t yet have exposure, this week is a chance to buy the dip,” Hunter Horsley, CEO of Bitwise, posted on X.