Bitcoin ETFs score highest net inflows in 30 days amid volatility from Mt. Gox unlocks

Despite the price of bitcoin falling as low as $54,000 in recent days, down about 25% from its peak above $73,000 in March, spot bitcoin ETFs had their strongest day of inflows for a month on July 5, gaining $143 million in total. 

Four out of the 11 top spot bitcoin ETFs saw inflows which added up to over 3,000 BTC +2.18% , worth about $172 million at current prices, with about 80% of that sum going to Fidelity's FBTC fund. The ETF offerings from Bitwise (BITB), Ark 21Shares (ARKB), and VanEck (HODL) drew the remainder of the inflows, while Grayscale's GBTC saw 500 BTC of outflow, worth about $29 million, according to Coinglass data . The remaining ETFs saw no significant change. 

The net inflow value is the highest single-day sum since June 6; however, early June saw significant inflows to the ETFs, with $1.7 billion in inflows over just four days, June 4 to June 7. June 7 marked a record-breaking 18-day streak of net inflows though June 10, the next trading day, saw $65 million in outflows from the funds. 

BlackRock's iShares Bitcoin Trust (IBIT) remains the top ETF with over $17 billion AUM, according to The Block's Data Dashboard , despite the fund seeing no major inflows or outflows on July 5. The ETF inflows may reflect some consumer optimism over the price of bitcoin, despite the Mt Gox sell-off, as The Block previously reported . 

"The outlook for Bitcoin has never been stronger. For many who don't yet have exposure, this week is a chance to buy the dip," Hunter Horsley, CEO of Bitwise, posted on X .