Bitcoin ETF added 423 million USD inflow, reaching a 6-week peak
July 16 was the eighth consecutive day of positive capital inflows into the 10 US Bitcoin Spot ETFs.
According to data from Farside Investors, US Bitcoin Spot ETFs on July 16 were supplemented with an additional $422.5 million, marking the eighth consecutive day of positive cash flow.
As usual, BlackRock's iShares Bitcoin Trust (IBIT) continues to be the leading name, with inflow reaching 260.2 million USD, 2.2 times higher than the previous trading session. With more than $18.4 billion in assets under management, IBIT is expected to surpass the $20 billion AUM milestone sooner or later.
In second place is Fidelity's FBTC with 61.1 million USD inflow. The remaining funds have a large gap, Ark Invest's ARKB is 29.8 million USD, VanEck's HODL is 22 million USD, WisdomTree's BTCO is 20.5 million USD, Bitwise's BITB is 17.3 million USD... Especially There are no funds selling.
Taken together, this is the largest net inflow in the past 6 weeks, bringing the lifetime inflow of US Bitcoin ETFs to $16.5 billion.
The SEC's finalization of the Ethereum Spot ETF trading opening schedule is also a significant driving force to draw capital flow back to the Bitcoin ETF.
ETF inflow and the news that the German government completed the liquidation process are temporarily "relieving" Bitcoin. Over the past month, the entire crypto market seemed trapped by the news of the German government selling Bitcoin and the unpredictable impact of the “ghost” of Mt. Gox repays debt.
Bitcoin has risen again and surpassed the $66,100 mark this morning, clearly recovering from the latest dump to $53,300.
Previously, the Bitcoin sale that lasted nearly a month was announced by the German government to bring in an "unprecedented" amount of up to 2.88 billion USD.
After "cleaning up" all wallets containing Bitcoin on July 13, 2024, German law enforcement officially announced that "this emergency sale brought agencies an unprecedented amount of money". rate' 2.88 billion USD".
Nearly 50,000 Bitcoins worth about $2.17 billion were confiscated from pirated movie site Movie2k in January, as part of an investigation into German and Polish nationals accused of running the sites. piracy websites for money laundering. Their trial is still ongoing.
The amount of 49,858 Bitcoins was then transferred to a wallet managed by the German Federal Criminal Investigation Department (BKA). By mid-June, German government agencies coordinated with each other to begin liquidating all of this BTC including the Saxony State Police Center, the Cryptocurrency Utilization and Custody Authority, and the Prosecutor's Office. Dresden, and German trading house Bankhaus Scheich.
In nearly 4 weeks, the German Bitcoin wallet transferred this $3 billion worth of BTC to popular crypto exchanges in the West such as Coinbase, Kraken, Bitstamp, and a number of market makers such as Cumberland, B2C2,... , with the value gradually increasing from a few tens of millions of USD per day in the early stages to hundreds of millions of USD per day in the past week.
Explaining the extension of the sale to nearly 1 month, the Prosecutor's Office explained that "the bank is authorized to sell the Bitcoin fairly, 'gently' and minimize the impact on the market." ". At the same time, they affirmed that Bitcoin price and market conditions have no bearing on the decision to sell BTC, and they are also strictly prohibited from "waiting for the price to increase". The stated goal is "sell as quickly as possible".
