Bitcoin spot ETFs collectively attracted a robust $265.69 million on Monday, marking the largest single-day inflow in over a month. This impressive figure represents the second positive session in three, following a break in a lengthy spell of withdrawals on July 2nd, according to data compiled by SoSoValue.
Leading the charge in Bitcoin inflows was BlackRock's IBIT fund, which alone absorbed a substantial $209.40 million. ARK Invest's ARKB also saw strong interest, bringing in $32.98 million, while Grayscale's mini BTC fund secured an additional $42.25 million. In contrast, Grayscale's principal GBTC fund was the sole outlier, shedding $44.45 million, indicating ongoing repositioning within the market.
Simultaneously, Ether ETFs also demonstrated renewed appeal, adding $20.66 million on the same day. BlackRock's ETHA fund was particularly prominent, contributing a significant $23.29 million to this total, highlighting growing institutional comfort with Ethereum-backed products.
Despite Monday's encouraging performance, the weekly picture for Bitcoin ETFs remains challenging. Over the recently shortened holiday week, spot Bitcoin ETFs still registered a net loss of $526.6 million, marking an eighth consecutive week of negative flows. Ether ETFs also concluded the week in negative territory, with net outflows of $13.7 million.
However, the recent inflows and a recovering Bitcoin price have had a tangible impact on the total assets under management (AUM) within Bitcoin ETFs. These assets have rebounded from a low of $70.95 billion on June 30th to climb back to $77.32 billion. This increase reflects both the returning investor confidence and a strengthening Bitcoin market, which was trading near $63,200 as the data was released, according to CoinDesk.
This latest data suggests that while the overall trend for crypto ETFs has been challenging in recent weeks, specific days of strong inflows, coupled with a more favourable price environment, could signal the beginning of a recovery. Investors and market watchers will be closely monitoring whether these positive trends can be sustained, potentially indicating a broader turnaround for the cryptocurrency investment landscape.
