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The US spot Bitcoin exchange-traded funds saw nearly $295 million in net inflows on July 8th. This represented significant buying activity, which was last seen in June, when Bitcoin was hovering above $70,000.The latest surge in investment comes as these vehicles kicked off July on a strong note. In the second week of July, they opened positively again, reflecting a renewed interest in the market.highlighted the significant inflows into major ETFs.
Even Grayscale’s GBTC attracted $25.07 million, followed by Bitwise’s BITB with $11.05 million. Ark Invest and 21Shares’ ARKB garnered $8.44 million, and VanEck’s HODL received $1.59 million. In contrast, some ETFs such as Invesco and Galaxy Digital’s BTCO, Valkyrie Digital Assets’ BRRR, Franklin Templeton’s EZBC, WisdomTree’s BTCW, and Hashdex’s DEFI recorded no flows for the day.The inflows come as Bitcoin continues to face intense selling pressure as a result of repayments linked to the defunct Mt. Gox exchange and the German government transferring hundreds of millions in BTC to exchanges last month.that the Bitcoin market can absorb it.
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