Bitcoin fireworks fizzle, but ETF inflows still sparkle
The post Bitcoin fireworks fizzle, but ETF inflows still sparkle appeared on BitcoinEthereumNews.com. Bitcoin price was stuck in a tight range on Saturday, July 5, as the recent recovery faded during the US Independence Day Weekend. Bitcoin (BTC) was trading at $108,000, lower than this week’s high of $110,000, and 10% above the lowest point this month. Spot Bitcoin ETFs continued their strong performance this week, with their cumulative inflows soaring by $769 million. That’s down from $2.2 billion the previous week. The weekly decline is partially due to the fact that this week had four U.S. trading days, in observance of Independence Day — a federal holiday in the United States. These ETFs have experienced cumulative inflows of $49 billion, indicating that they may surpass the $50 billion mark next week. BlackRock’s iShares Bitcoin Trust, whose ticker is IBIT, has had cumulative inflows of $52.6 billion. IBIT now holds over $76.5 billion in assets, making it one of the biggest ETFs in the United States. It ranks in eighth position among all BlackRock ETFs as it recently passed the iShares Core S&P Total US Stock Market ETF and the iShares Russell 2000 ETF. Observers note that the fund is likely to reach the $80 billion milestone soon. IBIT has been the fastest-growing ETF ever and is continuing to close the gap with the SPDR Gold Trust, which has $101 billion in assets. GLD was established in 2004. Bitcoin demand continues rising The number of Bitcoin treasuries established by corporations is gaining momentum. Strategy is leading the way with 597,325 coins. These companies now hold 848,902 coins. Bitcoin Treasury Boom! 51 companies have already added Bitcoin to their treasuries. This shows a clear uptrend. Dive into all the details in this thread
The post Bitcoin fireworks fizzle, but ETF inflows still sparkle appeared on BitcoinEthereumNews.com.
Bitcoin price was stuck in a tight range on Saturday, July 5, as the recent recovery faded during the US Independence Day Weekend. Bitcoin (BTC) was trading at $108,000, lower than this week’s high of $110,000, and 10% above the lowest point this month. Spot Bitcoin ETFs continued their strong performance this week, with their cumulative inflows soaring by $769 million. That’s down from $2.2 billion the previous week. The weekly decline is partially due to the fact that this week had four U.S. trading days, in observance of Independence Day — a federal holiday in the United States. These ETFs have experienced cumulative inflows of $49 billion, indicating that they may surpass the $50 billion mark next week. BlackRock’s iShares Bitcoin Trust, whose ticker is IBIT, has had cumulative inflows of $52.6 billion. IBIT now holds over $76.5 billion in assets, making it one of the biggest ETFs in the United States. It ranks in eighth position among all BlackRock ETFs as it recently passed the iShares Core S&P Total US Stock Market ETF and the iShares Russell 2000 ETF. Observers note that the fund is likely to reach the $80 billion milestone soon. IBIT has been the fastest-growing ETF ever and is continuing to close the gap with the SPDR Gold Trust, which has $101 billion in assets. GLD was established in 2004. Bitcoin demand continues rising The number of Bitcoin treasuries established by corporations is gaining momentum. Strategy is leading the way with 597,325 coins. These companies now hold 848,902 coins. Bitcoin Treasury Boom! 51 companies have already added Bitcoin to their treasuries. This shows a clear uptrend. Dive into all the details in this thread
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