US Bitcoin Spot ETFs See Record Single-Day Inflows of $295M, Hong Kong Market Sentiment Differs

Crypto investors in the United States have poured a total of $295 million into the Bitcoin spot exchange-traded funds (ETFs) in a single day

Crypto investors in the United States poured a total of $295 million into the Bitcoin spot exchange-traded funds (ETFs) in a single day following the recent market downturn which presented an opportunity for investors to top up their bags. The surge in investment comes as Bitcoin (BTC) hovers around $57,000, down from the $60,000 range it held just last week and throughout June.

Record Single-Day Inflows

The $295 million generated from Bitcoin ETFs on Monday is the highest level of single-day inflows in a month, according to data from SoSo Value.

Among all the funds, BlackRock’s IBIT fund performed the best, topping the chart with $187 million in inflows on Monday. The impressive performance brought IBIT’s total historical net inflow to $17.93 billion.

Following closely was Fidelity’s FBTC, which generated a total of $61.5 million on Monday.

Interest in Grayscale’s GBTC seemed to have dwindled, with the product only attracting $25 million in inflows on Monday, bringing GBTC’s total historical net outflow to $18.58 billion.

However, it was not the only ETF that performed poorly in the last 24 hours. Bitcoin ETFs owned by Bitwise generated only $11 million on July 8, while ARK 21Shares’ ARKB recorded $8 million in inflows. VanEck’s HODL saw around $2 million in inflows on Monday.

The remaining Bitcoin ETFs saw zero inflow on Monday, according to SoSo Value. As of July 8, US Bitcoin spot ETFs have a combined net value of $49.32 billion, indicating that the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reached 4.45%.

As of press time, the historical cumulative net inflow has reached $15.06 billion.

Global Sentiment

While the US crypto ETF market recorded impressive daily inflows on Monday, the global sentiment was different. In Hong Kong, Bitcoin spot ETFs saw less than $200 in daily inflows.

SoSo Value data shows that only one of the funds offered by Chinese asset manager Bosera in collaboration with HashKey received attention from investors on Monday, while the remaining funds offered by Harvest and AMC saw zero inflows.

As of July 8, the total net value of Bitcoin ETFs in Hong Kong is $230.17 million, with all issuers combined holding over 4,100 BTC in their portfolios. Interestingly, while Bitcoin ETFs in Hong Kong registered less than $200, its Ethereum counterparts saw zero daily inflows on Monday.

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