Bitcoin ETF inflows reach $130 million: Biggest turnaround in investment

On July 1, the US spot Bitcoin ETF attracted a whopping $130 million. That's a huge change! This is the largest inflow we've seen in weeks and could indicate a shift in investor perspective.

This sharp increase represents the strongest inflow in weeks and could signal the beginning of a change in investor sentiment.

Also read: Bitcoin (BTC): Analysts predict ‘bullish July’ after 7% decline in June

Crypto ETFs raise $130 million: What’s behind this wave of investment?

ETF Inflows Bitcoing Price Chart in $
source: CoinGecko

Let's take a closer look at these amazing ETF inflows to better understand how impressive this shift is. Fidelity's FBTC has the highest inflow at $65 million.

At the same time, Bitwise's BITB was also close to this value, with an impressive $41 million. In addition, Ark Invest and 21Shares' ARKB recorded net inflows of $13 million.

If you are asking the question, “But what about the other player?”, you are not the only one. Other players such as Ivesco, Galaxy Digital and VanEck also saw inflows of about $5 million.

Even more surprising is the fact that BlackRock's IBIT and Grayscale's GBTC saw no inflows on the day. Moreover, these are the two largest spot Bitcoin ETFs when calculating net asset value. Interesting, right?

Also read: Ethereum ETFs expected to cover 20% of Bitcoin ETF flows

These ETF inflows mentioned above are of course closely related to the larger investment trend. Although the Bitcoin price fell 0.3% to $63,094 on the first day, it is important to look at the bigger picture. Bitcoin has unfortunately been on a rollercoaster ride, recovering from a drop below $60,000 a week earlier. Of course, its value is still lower than the peak of $71,000 in June.

In addition, investment trends are also influenced by seasonal patterns. If we look at the history of this theme, both Bitcoin and Ether tend to perform better in July.

also read: Bernstein predicts Bitcoin will reach $200,000 by 2025

As we all know, a $130 million increase in ETF inflows is a significant turnaround in crypto trends. Looking at the transactions made, we can safely say that it is a three-week high, which may have been caused by the rapidly increasing investor confidence.