On July 15, $301 million poured into eleven U.S. Bitcoin exchange-traded funds (ETFs), pushing the cryptocurrency’s price above $64,000. This unprecedented seven-day streak of positive flows indicates a renewed and strong investor confidence in Bitcoin-based ETFs.

This influx of capital will transform the cryptocurrency investment landscape, showcasing growing bullish sentiment. It lays the groundwork for industry stability and future expansion, with major firms like BlackRock, Fidelity, and Grayscale leading the market.

Also read: Who Controls Bitcoin?

Breakdown of Inflows

BlackRock’s iShares Bitcoin Trust led the overall inflows, significantly boosting the market. This trend appeared across various ETFs, including those from Fidelity and Grayscale Bitcoin Trust, indicating a notable upswing in performance. BlackRock’s IBIT, Ark Invest, and 21Shares’ ARKB each attracted $117.2 million, underscoring their leading positions.

On Monday, BlackRock’s IBIT became the most traded Bitcoin ETF with a $1.24 billion trading volume.

Source: sosovalue-btc-spot

Significant net inflows of $36.15 million and $15.24 million, respectively, have been seen by Bitwise’s BITB fund and Fidelity’s FBTC fund. These rises have brought their total inflows to $9.75 billion and $2.14 billion, respectively.

On Monday, Bitcoin ETFs from VanEck, Invesco, Franklin Templeton, and Galaxy Digital reported strong inflows. Conversely, Grayscale’s GBTC and ETFs from WisdomTree, Hashdex, and Valkyrie did not see any inflows that day. Moreover, since its inception, GBTC has experienced a significant total outflow of $18.63 billion.

Trading Volume Analysis

There were $2.26 billion worth of trades in U.S. spot Bitcoin funds on Monday. With daily volumes frequently surpassing $8 billion in March, this figure is noticeably lower than that month. Despite recent volatility in trading volume, these exchange-traded funds (ETFs) have amassed a net inflow of $16.11 billion since their introduction in January, demonstrating sustained investor interest and activity.

As for spot Ether ETFs, the market is waiting anxiously for the SEC to approve them, which is projected to happen by the end of July. Matteo Greco of Fineqia is among the analysts who forecast significant inflows for ETH Spot ETFs after accounting for the difference in market capitalization between BTC and ETH. To determine investor interest in digital assets other than Bitcoin, Greco emphasized the need to examine net inflows in relation to BTC. Understanding the larger market mood on Ethereum and other cryptocurrencies will be made possible through the use of this data.

Related: Ethereum ETFs could attract $10B in inflows, propelling ETH to new highs.