US Bitcoin ETFs See Net Inflow of $310M Amid Market Recovery

• The spot Bitcoin ETF recorded an inflow of $310.21 million.
• Valkyrie digital assets, Franklin Templeton, WisdomTree, and Hashdex registered no inflows.

The crypto market is in a bearish trend, and amid this downturn, the U.S. spot Bitcoin exchange-traded funds (ETFs) had a significant net inflow. While the German government has been going through a strong selling spree throughout this week, the spot Bitcoin ETFs in the U.S. witnessed significant accumulation. 

According to the SoSoValue data , spot Bitcoin ETFs recorded a net inflow of $310.21 million on July 12, the highest inflow witnessed since the first week of June. In the last 24 hours, the BTC spot ETF with the largest single-day net inflow noted was BlackRock IBIT, with a single-day net inflow of $120 million. And the current total net inflow of IBIT is $18.26 billion. However, GBTC observed a single-day net inflow of $23.01 million; and the current historical net outflow of GBTC is $18.64 billion. 

Meanwhile, the Fidelity FBTC noted a single-day net inflow of $115 million, and the current total net inflow of the FBTC is $9.72 billion. Ark Invest and 21 Shares ARKB witnessed $13.02 million in inflows, and the current total inflow stays at $2.5 billion. The Bitwise Bitcoin ETF inflows are at $28.42 million, while the VanEck Bitcoin Trust ETF and the Invesco Galaxy Bitcoin ETF followed with $6.56 million and $4.03 million in inflows, respectively. 

On the other hand, the Valkyrie digital assets, Franklin Templeton, WisdomTree, and Hashdex-issued spot Bitcoin ETFs registered no inflows on the day. The cumulative net inflow has reached $15.81 billion, and the total net asset value of Bitcoin spot ETFs is $51.34 billion. 

Will BTC Recover Soon?

The BTC price has experienced a slight recovery of 1.86% in the last 24 hours. Over the last week, BTC marked a low in the range of $54K. The weekly high traded price is $59K.

BTC Price Chart (Source: CMC )

At the time of writing, Bitcoin is trading at $58,079. The daily trading volume has dropped by 18.84%, as per data from CMC . 

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