Lifetime Net Inflows into U.S.-Based Bitcoin Exchange-Traded Funds Surpass $16 Billion

Lifetime net inflows into U.S.-based spot bitcoin exchange-traded funds have exceeded $16 billion, with investors showing a strong interest in both bullish and bearish market conditions. The funds saw an additional $300 million influx on Monday, marking the seventh consecutive day of overall net inflows, according to data from Farside Investors.

BlackRock’s iShares Bitcoin Trust (IBIT) received the majority of the inflows, attracting $117.2 million. Currently managing $18.4 billion in assets, IBIT is on track to surpass the $20 billion mark soon. Fidelity’s Wise Origin Bitcoin Fund (FBTC) is also approaching the $10 billion assets under management milestone.

The significant inflows coincided with a strong rebound in bitcoin prices from the mid-$50K range, where it had been consolidating since earlier this month following Germany’s sale of 50,000 BTC and Mt. Gox repayments which led to a market downturn. Bitcoin (BTC) is currently trading at $64,600, a 13% increase from late Friday.

The ongoing streak of ETF inflows began during bitcoin’s decline in early July, with daily net additions ranging from $140 million to $300 million. This trend defies the expectations of some market bears who suggested that the ETF interest was short-term and would flee at the first sign of market volatility.

Simultaneously, issuers of a potential spot ether ETF are finalizing their documents to submit to the U.S. Securities and Exchange Commission (SEC). The SEC has indicated that these funds could be available in the market as early as Tuesday, July 23.