US Crypto ETFs Don Post $12.8B Record Inflows for July
US crypto ETF dem get record inflows of $12.8 billion for July, averaging $600 million every day. Dem crypto ETF pass all other ETF categories, including Vanguard’s S&P 500 fund (VOO). Bitcoin an Ethereum spot ETF join hand equally for the rise. Bitcoin ETF reach $146.5 billion assets under management (AUM), BlackRock’s IBIT ($84 billion) an Fidelity’s FBTC ($23 billion) lead. Ethereum spot ETF gather $20.1 billion AUM, BlackRock’s ETHA ($10.7 billion) lead dem. IBIT attract 75% of BlackRock first-time clients, wit 27% still dey buy other iShares ETF dem. IBIT launch for January 2024 an e dey offer direct 1:1 Bitcoin holdings. ETF demand don push Bitcoin price up almost 300% since BlackRock apply; Bitcoin dey trade near $113,800 now. Even though total crypto market cap drop 5% inside 24 hours—because of losses for BTC, ETH, an SOL—record ETF inflows show say demand strong for regulated crypto exposure. Dis trend fit mean say better future dey, e go boost institution adoption an market liquidity.
Bullish
Record inflows into crypto ETFs dey show say investors get strong demand for regulated digital asset exposure. For short term, the heighten ETF activity fit boost trading volumes and support price rally as new capital dey enter Bitcoin and Ethereum markets. For long term, sustained institutional adoption and growing AUM for spot ETFs dey contribute to better market liquidity and legitimacy. Historical patterns show say ETF launches often dey come before price go up and volatility reduce, wey mean say cryptocurrency values go continue to get upward pressure. So, the data dey point to better outlook for Bitcoin and the wider crypto markets.