hold or not - BlackRock Spot Bitcoin ETF Returns Positive With $121.3M Inflows

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LIVE UPDATES • BLAST Token Holders Will Be Supported With 2x Points In The Future • Registration Now Open for Gate.io WCTC S6 Competition, Offers Up To $5 Million in Prizes • BlackRock Spot Bitcoin ETF Returns Positive With $121.3M Inflows • Flipster Launches Trading Competitions with 150,000 USDT worth of prizes to Celebrate 1st Anniversary • Suriname Presidential Candidate Promotes Bitcoin As New Legal Tender • TON Blockchain Layer 2 Coming Soon With the Support of Polygon’s Technology • Former FTX Executives Will Be Found Guilty By Year’s End After Exchange Crash Crisis • USDC Treasury Unleashes 250M USDC on Solana Network! • Jerome Powell Signals No Rate Cuts Amid Weak Inflation Data! • Circle Stablecoin EURC Will Be Launched on Layer 2 Base Network

News BlackRock Spot Bitcoin ETF Returns Positive With $121.3M Inflows 44 mins ago - Around 2 mins mins to read

Key Points:

BlackRock spot Bitcoin ETF saw significant inflows of $121.3 million today and $187.2 million on July 8.

Grayscale’s Bitcoin Trust lost $37.5 million, continuing its struggle amid June’s tough market for Bitcoin ETFs.

Ethereum is also recovering as VanEck and 21Shares file new spot ETF registrations following SEC amendments.

After a stretch of lackluster performance, BlackRock spot Bitcoin ETF experienced a significant uptick, with $121.3 million in inflows today.

BlackRock Spot Bitcoin ETF Sees Major Inflows Amid Market Recovery

This follows another substantial inflow on July 8, amounting to $187.2 million, as reported by Farside Investors. The recent activity suggests a potential rebound for BlackRock spot Bitcoin ETF, which had been stagnant for some time.

Contrarily, Grayscale’s Bitcoin Trust (GBTC) faced continued challenges, suffering an outflow of $37.5 million during today’s trading session. June had been a particularly tough month for Bitcoin ETFs, characterized by more outflows than inflows, reflecting the bearish trend in Bitcoin prices. The spot Bitcoin ETFs saw nine days of outflows compared to ten days of inflows, with the outflow values being significantly higher.

The current bullish rally in spot Bitcoin ETFs coincides with Bitcoin’s price surge, which rebounded to $58,000 on Tuesday. This recovery follows a difficult week for Bitcoin, marked by negative news such as the US and German governments’ Bitcoin sales and the disruptive repayment process of Mt. Gox, which had driven Bitcoin to its lowest price in five months last week.

Ethereum ETFs Gain Momentum with New SEC Filings

Ethereum has also shown signs of recovery, trading around $3,080 over the past 24 hours. The resurgence comes as VanEck and 21Shares filed updated registration statements for their spot Ethereum ETFs.

VanEck renamed its product as The VanEck Ethereum Trust, leading the wave of amendments triggered by recent Securities Exchange Commission (SEC) requirements. These SEC S-1 and S-3 amendments impact asset managers’ abilities to issue spot Ether ETFs, distinguishing them from the 19b-4 filings that allow exchanges to list and trade these funds upon launch.

Bitcoin Blackrock BlackRock Spot Bitcoin ETF BTC ETF Ethereum IBIT Spot Bitcoin ETF

Author Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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BlackRock Spot Bitcoin ETF Returns Positive With $121.3M Inflows