U.S. Spot Bitcoin ETFs See Nine Straight Days of Net Inflows, Eyeing $100K Milestone

The U.S. spot Bitcoin exchange-traded funds (ETFs) have seen nine straight days of net inflows, indicating robust investor interest.

U.S. spot Bitcoin exchange-traded funds (ETFs) saw nine straight days of net inflows on Wednesday, 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 remained popular choices for investors.

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

Bitcoin ETF inflows decreased on Wednesday

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. However, this figure marks a notable decrease from Tuesday’s impressive $422 million in net inflows.

BlackRock’s iShares Trust (NYSE: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.

On the other hand, Grayscale’s Bitcoin Trust (NYSE:GBTC) experienced net outflows of $53.86 million, and Bitwise’s Bitcoin Fund (NYSE:BITB) saw $6 million in outflows. The remaining seven funds, including Ark Invest and 21Shares, reported zero flows for the day.

Overall, 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 now accumulated a total net inflow of $16.59 billion

Bitcoin price eyeing for $100K mark

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

The largest amount of net inflow for #Bitcoin since the end of June!

Despite the negative news, Bitcoin’s price is stable at $65K with consistent institutional inflow.

It’s only a matter of time before we see Bitcoin at $100K. pic.twitter.com/f46xvn7SkJ

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 this, Bitcoin’s price dropped slightly by 0.42% over the past 24 hours, currently trading at $64,776.

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