Recently, the spot Bitcoin ETF has shown positive daily inflows after a significant capital inflow of $407.78 million as of July 2. The Fidelity Wise Origin Bitcoin Fund (FBTC) led the inflows.
Resumption of Positive ETF Inflows
Spot Bitcoin ETFs have resumed their positive trend following a massive outflow of $342 million on June 30. This time, Fidelity added over $183 million in a single day, signaling a return of institutional interest.
Fidelity's Increasing Bitcoin Holdings
Following the recent inflow, the total Bitcoin assets held by Fidelity now stand at $20.76 billion. This impressive growth has also impacted the fund’s market value, which has surged to $8.8 billion, indicating increasing confidence among institutional investors.
Analysis of Current Market Trends
Despite recurring volatility in the crypto market due to external macroeconomic pressures, Bitcoin has remained resilient around key support levels, holding firm above the $100,000 mark. Following the notable inflow, Bitcoin has shown a price gain of 0.45% over the past day.
Today's events highlight the growing institutional interest in Bitcoin and may signal new trends in the cryptocurrency space.
