Bitcoin ETF · Bitcoin · Coinbase · The Block
Bitcoin as the underlying asset has displayed signs of recovery since the start of the month
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
◎ Multiple-sources
Glassnode analyst Chris Beamish wrote in the firm's latest report that long-term bitcoin holders have returned to accumulation after an extended period of distribution, with buying activity broadening across wallet cohorts, including smaller holders and entities holding 100 to 1,000 BTC.
Key facts
- The spot bitcoin ETFs logged a total net inflow of $221.7 million on July 2, led by $166 million moving into Fidelity's FBTC, according to data from SoSoValue
- Bitcoin as the underlying asset has displayed signs of recovery since the start of the month, rising from around $58,000 on July 1 to about $61,730, marking a 2.8% increase in the past 24 hours, 's
- Glassnode analyst Chris Beamish wrote in the firm's latest report that long-term bitcoin holders have returned to accumulation after an extended period of distribution, with buying activity — This is the first time the bitcoin ETFs have reported net inflows since June 16, after which the funds entered a losing streak totaling more than $2.7 billion
Summary
U.S. spot bitcoin (BTC) exchange-traded funds reported net inflows on Thursday, breaking a 10-day negative streak. The spot bitcoin ETFs logged a total net inflow of $221.7 million on July 2, led by $166 million moving into Fidelity's FBTC, according to data from SoSoValue. This is the first time the bitcoin ETFs have reported net inflows since June 16, after which the funds entered a losing streak totaling more than $2.7 billion. Meanwhile, BlackRock's IBIT was the only fund that saw net outflows on Thursday, shedding $40.4 million. "The recent net inflows into spot bitcoin ETFs suggest investors are cautiously rebuilding exposure after a period of profit-taking and macro uncertainty," said Nick Ruck, director of LVRG Research.