Recent activity in cryptocurrency exchange-traded funds (ETFs) has revealed significant inflows, particularly in Bitcoin and Ethereum products. The total amount attracted by these funds reached $108.87 million, signaling renewed interest from investors.
BlackRock Dominates Bitcoin ETF Flows
BlackRock’s IBIT has emerged as a leader in the Bitcoin ETF space, accounting for $86.83 million of the total demand. During the session on July 10, U.S. spot Bitcoin funds registered net inflows of $90.44 million. In contrast, VanEck's HODL contributed a smaller amount of $3.61 million. The concentration of inflows suggests a strong institutional preference for IBIT, which has amassed $60.29 billion in cumulative inflows since its inception.
Currently, the Bitcoin ETF market holds approximately $77.42 billion in net assets, which is about 6.02% of Bitcoin's total market value. This rebound follows a challenging period for the category, during which Bitcoin products faced a ten-day withdrawal streak totaling roughly $2.73 billion. Despite the positive session, flows remain inconsistent across different issuers.
Ethereum ETFs Also Gain Traction
In addition to Bitcoin, U.S. spot Ethereum products attracted $18.43 million on July 10. This brings the total net assets of Ethereum ETFs to around $9.59 billion, with cumulative inflows reaching approximately $10.97 billion. The disparity in inflows indicates that while interest in regulated crypto products is growing, Bitcoin continues to dominate institutional investments.
Currently trading near $64,200, Bitcoin is testing the significant resistance level at $65,000. A successful breakout above this threshold could enhance short-term momentum. However, the upcoming U.S. CPI report on July 14 may impact market dynamics, as traders navigate a thinner weekend market.
This material is for informational purposes only and should not be considered financial advice.
