Against the backdrop of the crypto market, U.S.-based spot Bitcoin ETFs registered their strongest day of net inflows in more than a month.
This is the first time in three trading weeks that net inflows across all funds were positive, registering $295 million on July 8.
In addition, the inflows achieved marked the most significant inflow since June 5, when they reached more than $488 million.
BlackRock’s ETF, the iShares Bitcoin Trust, saw the largest inflows with a result of $187.2 million, while Fidelity’s Wise Origin Bitcoin Fund followed with $61.5 million.
The Grayscale Bitcoin Trust had a rare positive day, receiving inflows of $25.1 million.
Louisiana has become the latest U.S. state to accept cryptocurrency payments for state services.
CryptoQuant, a prominent market research firm, has observed a notable decline in the supply of short-term holders (STH) of Bitcoin (BTC), which may hinder the cryptocurrency’s potential price surge.
U.S. Congressman Warren Davidson has vocally criticized SEC Chair Gary Gensler, accusing the SEC of deliberately hindering Bitcoin ownership.
Michael Saylor’s MicroStrategy continues to expand its Bitcoin reserves, showing their undeniable optimism for the crypto market bull run.