Bitcoin ETF records positive cash flow for 7 consecutive days - BTC approaches 65,000 USD

301 million USD poured into US Bitcoin ETFs in yesterday's trading session, bringing the total inflow of the last 7 days to 1.4 billion USD.

According to data from Farside Investors, 10 US Bitcoin ETFs closed the trading session on July 15 with an inflow of $301 million.

This is the second consecutive trading session that Bitcoin ETFs have inflows of more than 300 million USD, following the highest achievement in the week of July 13 of 310 million USD.

BlackRock's IBIT fund and ARK 21Shares' ARKB account for the highest proportion, with $117 million each flowing into the Bitcoin market. Following behind but with a large gap is Fidelity's FBTC with 36.1 million USD and Bitwise's BITB with 15.2 million USD.

The next names have quite modest inflows, WisdomTree's BTCO reached 7.9 million USD, Franklin's EZBC reached 3.7 million USD, VanEck's HODL reached 3.6 million USD... Notably, there was no Which fund sells?

To summarize, yesterday's ETF trading session was the 7th consecutive day of positive cash flow, with a total value of 1.4 billion USD.

🚨 $BTC #ETF Net Inflow July 15, 2024: +$301M!

• The net inflow remains positive for 7 consecutive trading days!

• #ARK (ARKB) achieved an inflow of over $100M again after 27 trading days.

• #BlackRock (IBIT) continued to have another big inflow of $117M.

• #Grayscale… pic.twitter.com/o7fwqEdHUU— Spot On Chain (@spotonchain) July 16, 2024

This morning, Bitcoin (BTC) has approached the threshold of 65,000 USD. In the past 24 hours, the coin that dominates the crypto market has increased by nearly 4% and is being traded for 64,737 USD per coin. BTC price has erased the losses of the $53,500 dump earlier this month.

The majority of altcoins are also covered in impressive green, with an average amplitude of 3-10% on the same reference frame.

Not only is it motivated by the flow of money into the Bitcoin ETF, but the market is also absorbing a series of positive information from the United States.

Last night, CEO Larry Fink of BlackRock asset management group continued to give "wings" to the world's largest cryptocurrency. In an interview with CNBC, he repeatedly praised Bitcoin and considered it an investment that everyone should own in their personal portfolio, and then repeated the previous comparison of Bitcoin with digital gold.

The next good news related to Ethereum ETF, the SEC has set the date for allowing trading of this product to be July 23, and requires issuers to quickly complete S-1 documents before this time. . ETH price increased by nearly 6% after this information, as reported.

Finally, notable information comes from Mr. Donald Trump, the former President who was just assassinated the other day. If he is elected President for the second time, the United States will have the first Vice President to publicly support Bitcoin, senator JD Vance. Vance has owned between 100,000 - 250,000 USD in Bitcoin since last year and has supported many crypto-friendly bills. He also wants to reform the SEC and CFTC, paving the way for the cryptocurrency industry.

Some sources confirm that the SEC has notified ETF issuers that it will allow Ethereum ETF trading to open next Tuesday (July 23).

According to CoinDesk, Ethereum ETF issuers have been notified by the US Securities Commission (SEC) of the time to open trading, which is next Tuesday (July 23).

The SEC said it will be necessary for issuers to complete the S-1 filing again and send it back to the commission before this Wednesday (July 17).

The above information was also confirmed by another source, Bloomberg ETF analyst Eric Balchunas, in a post on X (Twitter).

Update: Nate's instincts were right, hearing SEC finally got back to issuers today, asking them to return FINAL S-1s on Wed (incl fees) and then request effectiveness on Monday after closing for a TUESDAY 7/23 LAUNCH. This is provided no unforeseeable last min issues of course! https://t.co/D21FD9Qf94— Eric Balchunas (@EricBalchunas) July 15, 2024

As reported, the SEC at the end of May gave preliminary approval to Ethereum ETF proposals from many Wall Street financial giants such as BlackRock, Fidelity, VanEck,... but has not yet set a date to open trading. Issuers then continuously completed S-1 filings to officially receive ETF approval from the SEC, but so far only VanEck, Invesco and Galaxy have disclosed specific transaction fees.

ETH price is rising nearly 6% in recent hours to $3,498 thanks to news that the Ethereum ETF could begin trading starting next week.