US Spot Bitcoin ETFs Experience Surge in Net Inflows

US spot Bitcoin exchange-traded funds (ETFs) observed a notable rise in net inflows on Monday, amassing a total of $129.45 million. This signifies the fifth consecutive day of positive flows and the most substantial fund increase since June 7.

Fidelity's FBTC reported the highest inflow at $65 million, with Bitwise's BITB closely following with a net inflow of $41 million.

Ark Invest and 21Shares' ARKB also recorded a net inflow of $13 million. In comparison, Invesco, Galaxy Digital, VanEck, and Franklin Templeton reported relatively modest inflows, each around or below $5 million.

Interestingly, the two leading spot Bitcoin ETFs by net asset value, BlackRock's IBIT and Grayscale's GBTC, witnessed no inflows on Monday.

The collective trading volume of these 11 Bitcoin funds reached approximately $1.36 billion on Monday. Since their establishment in January, the ETFs have attracted a cumulative total of $14.65 billion in net inflows.

Bitcoin and Ethereum traditionally display strong performance in July due to historically positive seasonality, as noted by QCP Capital analysts in a report released on Monday.

Coinbase analysts also emphasized the favorable seasonal pattern observed in July, indicating a potentially positive month for the cryptocurrency market.

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