Spot Bitcoin exchange-traded funds (ETFs) have now surpassed $50 billion in cumulative net inflows, less than two years since their debut in January 2024.
Key Takeaways:
Spot Bitcoin ETFs have surpassed $50 billion in net inflows just 18 months after launch. BlackRock’s IBIT leads the market, now holding over 700,000 BTC. Analysts expect SEC approval for Solana, XRP, and Litecoin ETFs soon.On July 9 alone, the market saw $218 million in net inflows, marking the fifth consecutive day of positive momentum, according to SoSoValue data.
Over the past five trading days, U.S. spot Bitcoin ETFs have pulled in nearly $1.52 billion.
Bitcoin ETF Inflows Accelerate in July After Brief Setback
Inflows into spot Bitcoin ETFs have steadily accelerated throughout July following a brief setback
After a $342 million net outflow on July 1, institutional appetite rebounded sharply, with daily inflows peaking at $601.94 million on July 3.
Total net assets under management across all funds now sit at $139.39 billion.
BlackRock’s iShares Bitcoin Trust (IBIT) continues to dominate the landscape, amassing a net inflow of $53 billion.
Fidelity’s FBTC follows with $12.29 billion. In contrast, the Grayscale Bitcoin Trust (GBTC) remains the only fund with net outflows, losing $23.34 billion since its conversion.
IBIT’s dominance was further cemented this week when it became the first ETF to hold over 700,000 BTC, now accounting for over 55% of all BTC held in U.S. spot Bitcoin ETFs.
Remarkably, BlackRock is now reportedly earning more from IBIT than from its long-established iShares Core S&P 500 ETF.
Commenting on IBIT’s explosive growth, Nate Geraci, president of NovaDius Wealth Management, said recently that it has already become BlackRock’s third-highest revenue-generating ETF out of 1,197 products, surpassing even some of the firm’s flagship traditional funds.
As reported, Bloomberg’s senior ETF analysts have assigned a 95% chance that the SEC will approve spot ETFs for Solana, XRP, and Litecoin this year, raising their previous odds from 90% amid growing optimism for institutional crypto products.
They also expect a crypto index ETF tracking multiple assets could gain approval as early as this week, signaling broader access to altcoins for traditional investors.
Institutional Bitcoin Demand Shifts From ETFs to Corporate Treasuries
Beyond ETFs, institutional Bitcoin demand is spreading into corporate treasuries.
Japan’s Metaplanet recently bought $237 million worth of BTC, becoming the fifth-largest corporate holder with a stack exceeding 15,500 BTC.
France’s The Blockchain Group and the UK’s Smarter Web Company also made new BTC treasury allocations this week, purchasing $12.5 million and $24.3 million worth of Bitcoin respectively.
Remixpoint, a Tokyo-listed firm, raised $215 million to fund a planned accumulation of 3,000 BTC.
Meanwhile, Bitcoin reached a new all-time high of $112,000 on Wednesday, triggering nearly $200 million in short liquidations.
Ether followed closely behind, climbing 6.6% in 24 hours to trade at $2,778, with analysts predicting a potential breakout past $3,000 in the coming days.
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