Bitcoin ETFs Record $438M Inflows Despite Bitcoin’s Dip

Author: Nidhi Kolhapur

Nidhi Kolhapur

Author

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Jul 10, 2024 9:32

The Bitcoin ETFs recorded nearly $300 million in inflows on a single Monday, marking the highest buying activity since June when Bitcoin was trading above $70,000. As reported by Bloomberg, over $438 million has been poured into US ETFs in just two days. BlackRock’s IBIT ETF was the top performer with nearly $180 million in purchases, followed by Fidelity’s FBTC and Grayscale’s GBTC with over $25 million. Despite selling pressure from Mt. Gox repayments and a German government entity, institutional investors are viewing this as a buying opportunity