Summary
- Bitcoin ETFs recorded $422.6 million in inflows on July 16.
- Meanwhile, BTC is trading above $65,000, despite the Mt. Gox repayments debut.
According to the latest reports coming from SoSoValue, the US Bitcoin ETFs recorded $422.6 million in inflows on July 16.
This marks the 8th consecutive inflow day and the largest influx since June.
Here are the inflows in Bitcoin ETFs from yesterday:
- BlackRock’s Bitcoin ETF, IBIT, recorded $260.2 million in inflows.
- Fidelity’s Bitcoin ETF, FBTC, recorded $61 million in inflows.
- Ark Invest and 21Shares’ Bitcoin ETF, ARKB, saw almost $30 million in inflows.
- Bitwise’s Bitcoin ETF, BITB, saw $17.3 million in inflows.
- VanEck’s Bitcoin ETF, HODL, recorded $22.04 million in inflows.
- Valkyrie Digital Assets’ Bitcoin ETF, BRRR, recorded $2.21 million in inflows.
- Invesco and Galaxy Digital’s Bitcoin ETF, BTCO, recorded $20.5 million in inflows.
- Franklin Templeton’s Bitcoin ETF, EZBC, recorded $9.4 million in inflows.
The other crypto products did not see any inflows or outflows yesterday.
According to the same official data, the total net assets in Bitcoin ETFs are $58.4 billion.
Meanwhile, Bitcoin is trading above $65,000, up by over 3% today, despite the FUD generated by Mt. Gox repayments’ process debut.
Bitcoin Above $65,000
On July 16, Mt. Gox debuted its repayment process and sent over 47,000 BTC to Kraken. According to official reports, creditors have to wait 7-14 days to receive funds.
New reports from CryptoQuant also reveal that Mt. Gox FUD is overestimated, which means that the repayments will not affect BTC’s price as much as initially believed.
The total amount of digital assets involved in the repayment process is significant, and the exchange was estimated to hold around 140,000 BTC and a larger amount of BCH.
Even if the impact of the process on Bitcoin’s price is still uncertain, more analysts believe that the reason for which the price will not be affected significantly is the fact that the distribution of funds will be spread over a longer period of time.
