The recent correction in Bitcoin’s price has presented an attractive opportunity for ETF investors to buy on the dip. Bitcoin Spot ETFs saw impressive net inflows of $143.1 million on July 6, marking their largest monthly inflow, according to Farside Monitoring.
Rush to Bitcoin ETFs after price crash
On July 6, Bitcoin spot ETFs saw a record inflow of $143.1 million, marking their largest net inflow in a month. This surge of investment comes after Bitcoin’s price dropped significantly below $54,000 on July 4.
The Fidelity ETF (FBTC) has dominated the market with inflows of $117 million, followed by Bitwise (BITB) with $30.2 million. ARK Invest (ARKB) and ProShares (HODL) also saw significant inflows, of $11.3 million and $12.8 million, respectively.
However, the Grayscale Bitcoin Trust (GBTC) saw a reverse trend with a net outflow of $28.6 million, contrasting with the positive momentum of other spot Bitcoin ETFs.
Outlook remains positive, experts say
Hunter Horsley, CEO of Bitwise Asset Management, highlighted his team’s efficiency in acquiring BTC at very competitive costs. He said: “ Bitcoin’s outlook has never been better. For many who don’t have exposure yet, this week is an opportunity to buy the dip. »
This optimistic view is supported by the continued growth of BlackRock's spot ETF's Bitcoin holdings, which have surpassed 38,000 BTC after inflows of over $66 million during the first week of July.
Even noted Bitcoin critic Peter Schiff has acknowledged the resilience of Bitcoin ETF investors. He noted: “ So far, there is no sign of panic. It will likely take a much larger drop in BTC before they finally capitulate.”
In short, the recent market volatility has created a buying opportunity seized by institutional investors. This trend suggests continued confidence in Bitcoin’s long-term potential.
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