BTC ETF inflows reached $533m ahead of ETH ETF launch

Spot Bitcoin exchange-traded funds in the United States have been seeing consecutive inflows ahead of the spot Ethereum ETF launch.

According to data provided by Farside Investors, spot Bitcoin (BTC) ETFs recorded $533.6 million in inflows on July 22 — reaching the highest level since June 4’s $886.6 million. This is the third consecutive week of inflows for the investment products.

Most of the inflows, worth $526.7 million, came from BlackRock’s iShares Bitcoin Trust (IBIT), per Farside Investors. With the recent surge, the total amount of inflows into the IBIT ETF came close to the $19.5 billion mark.

Data shows that the Fidelity Wise Origin Bitcoin Fund (FBTC), Invesco Galaxy Bitcoin ETF (BTCO) and Franklin Bitcoin ETF (EZBC) also had $23.7 million, $13.7 million and $7.9 million in inflows, respectively. 

Moreover, despite the market-wide bullish expectations, the VanEck Bitcoin Trust (HODL) registered $38.4 million in outflows.

The remaining spot BTC ETFs, including the Grayscale Bitcoin Trust (GBTC), stayed neutral. According to Farside Investors, the total amount of these investment products is currently sitting at $17.58 billion.

While the spot BTC ETFs started a bullish week, the Bitcoin price declined by 1.3% in the past 24 hours. The flagship cryptocurrency is trading at $66,650 with a market capitalization of $1.31 trillion at the time of writing. 

Notably, spot Ethereum (ETH) ETFs in the U.S. are also expected to start trading today after getting the green light from the U.S. SEC. So far, the regulator approved the ETF applications from BlackRock, Fidelity, VanEck, 21Shares and Bitwise, to name a few.