U.S. spot bitcoin ETFs pulled in $265.69 million on Monday, their largest daily inflow in over a month as the bid returns after a long stretch of outflows. Ether ETFs added money the same day, though the weekly picture stayed negative for both.
U.S. spot bitcoin ETFs pulled in $265.69 million on Monday, the largest daily inflow in over a month and the second in three sessions after July 2 broke a long run of outflows, according to SoSoValue data. Ether ETFs added $20.66 million the same day, led by BlackRock's ETHA at $23.29 million.
BlackRock's IBIT led the bitcoin bid
Within the bitcoin total, BlackRock's IBIT absorbed $209.40 million, with ARKB taking in $32.98 million and Grayscale's mini BTC fund adding $42.25 million. GBTC shed $44.45 million, the only fund in the red.
Bitcoin traded near $63,200 as the data landed. Total bitcoin ETF assets climbed back to $77.32 billion from a June 30 low of $70.95 billion, helped by both the price recovery and the returning bid.
The weekly picture is still negative
But the daily turn has not fixed the weekly numbers. Spot bitcoin ETFs still lost a net $526.6 million over the shortened holiday week, an eighth straight week of negative flows. Ether ETFs lost $13.7 million on the week.
USDT's dominance rate measures the leading stablecoin's share of the total crypto market. It now stands at 8.54%, down from a peak of 9.35% hit last month, according to TradingView data, with that June peak the highest level since the second half of 2022.
Declining USDT dominance tends to signal renewed risk appetite across the broader crypto market, while rising dominance is often associated with downturns.
Source: CoinDesk
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