Spot Bitcoin exchange-traded funds (ETFs) in the United States have experienced consecutive inflows leading up to the launch of spot Ethereum ETFs. According to data from Farside Investors, spot Bitcoin ETFs saw $533.6 million in inflows on July 22, marking the highest level since $886.6 million on June 4. This represents the third consecutive week of inflows for these investment products.
Most of the inflows, totaling $526.7 million, were directed towards BlackRock’s iShares Bitcoin Trust (IBIT), according to Farside Investors. This recent surge brings the total inflows into the IBIT ETF close to $19.5 billion.
Additionally, the Fidelity Wise Origin Bitcoin Fund (FBTC), Invesco Galaxy Bitcoin ETF (BTCO), and Franklin Bitcoin ETF (EZBC) saw inflows of $23.7 million, $13.7 million, and $7.9 million, respectively.
However, despite the overall bullish market sentiment, the VanEck Bitcoin Trust (HODL) experienced $38.4 million in outflows.
The remaining spot Bitcoin ETFs, including the Grayscale Bitcoin Trust (GBTC), remained neutral. According to Farside Investors, the total assets in these investment products currently stand at $17.58 billion.
Although spot Bitcoin ETFs began the week on a bullish note, the Bitcoin price has declined by 1.3% in the past 24 hours. At the time of writing, Bitcoin is trading at $66,650 with a market capitalization of $1.31 trillion.
Notably, spot Ethereum ETFs in the U.S. are set to begin trading today following approval from the U.S. SEC. The regulator has greenlit ETF applications from several firms, including BlackRock, Fidelity, VanEck, 21Shares, and Bitwise.