Bitcoin ETFs in Hong Kong and Australia have seen significant inflows, setting new records amid a large sell-off by the German government. Globally, the Bitcoin ETF market has accumulated 1.05 million BTC.
Hong Kong’s Bitcoin ETFs have increased their holdings to 4,941 BTC as of July 13, up 28.6% from June 21, reflecting renewed confidence in Bitcoin. Previously, these ETFs had dropped below 3,700 BTC in May due to outflows.
In Australia, the Monochrome Bitcoin ETF (IBTC) has attracted 83 BTC since its launch, bringing its total holdings close to 100 BTC. DigitalX is also planning to launch another Bitcoin ETF following recent approval.
Meanwhile, the German government sold off 50,000 BTC seized from the piracy site Movie2k, with the final batch of 3,874 BTC sold to Flow Traders on July 12.
U.S. Bitcoin ETFs saw over $1.1 billion in inflows this week, the highest weekly amount since May. These ETFs now hold a record 888,607 BTC, according to HODL15Capital.
On July 12 alone, U.S. Bitcoin ETFs gained $311 million, led by BlackRock’s IBIT with $121 million and Fidelity’s FBTC with $115 million. BlackRock’s ETF accumulated $523 million over the week, while Fidelity’s FBTC gained $356 million. BlackRock’s IBIT now manages over $18 billion in assets, and Fidelity’s FBTC is nearing $10 billion.
The Bitcoin market is entering a complex phase marked by rising realized profits, reduced whale balances, and historically prolonged sideways price movement.
European banking giant UniCredit is preparing to offer its professional clients a new investment product linked to BlackRock’s spot Bitcoin ETF (IBIT), according to a report by Bloomberg.
Connecticut has officially distanced itself from government adoption of digital assets like Bitcoin. On June 30, Governor Ned Lamont signed House Bill 7082 into law, placing sweeping restrictions on how the state and its agencies can engage with cryptocurrencies.
Bitcoin giant Strategy has added another 4,980 BTC to its reserves in a purchase worth approximately $531.9 million, according to Executive Chairman Michael Saylor.