The U.S. spot Bitcoin exchange-traded funds (ETFs) have seen nine straight days of net inflows, indicating robust investor interest. Although there was a notable decrease in inflows from the previous day, top funds such as BlackRock’s IBIT and Fidelity’s FBTC remain popular choices for investors. 

Meanwhile, analysts are optimistic about this trend, predicting that Bitcoin’s price could soon reach the coveted $100,000 milestone.

Consistent Inflows for Bitcoin ETFs

Yesterday on July 17, the 11 U.S. spot Bitcoin ETFs saw a combined net inflow of $53.35 million, extending the positive streak to nine days. This figure, however, is a notable decrease from Tuesday’s impressive $422 million in net inflows. 

BlackRock’s IBIT led the pack, drawing in $110.37 million in net inflows and recording a trading volume of $1.21 billion. Fidelity’s FBTC also posted net inflows, albeit smaller, at $2.83 million.

Not all ETFs fared as well. Grayscale’s GBTC experienced net outflows of $53.86 million, and Bitwise’s BITB saw $6 million in outflows. The remaining seven funds, including Ark Invest and 21Shares, reported zero flows for the day. 

Despite these mixed results, the total trade volume for U.S. spot Bitcoin funds on Wednesday reached $1.79 billion, although this remains significantly lower than the peaks observed in March when daily volumes exceeded $8 billion. Perhaps since their launch in January, these ETFs have accumulated a total net inflow of $16.59 billion

Bitcoin Eyeing For $100K Mark

Looking at the increasing net inflow in Bitcoin ETF renowned crypto analyst Michael van de Pop has highlighted growing institutional interest. Meanwhile, recent data shows that Bitcoin has seen its largest net inflow since June. 

Van de Pop remains optimistic about Bitcoin’s future, predicting that it won’t be long before the cryptocurrency reaches the $100,000 mark. Despite these encouraging signs, Bitcoin’s price dropped slightly by 0.42% over the past 24 hours, currently trading at $64,776.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed