USD 1 billion via ETF promoted Bitcoin to its historical maximum
The Bitcoin ETF in cash in the United States registered net tickets of 1,180 million dollars, yesterday, July 10, marking the second largest daily capital entry since its arrival at the market in January 2024.
The Ishares Bitcoin Trust (ibit) managed by Blackrock led with 448 million dollarsfollowed by the Fidelity Wise Origin Bitcoin Fund (FBTC) with 324 million dollars.
The Ark 21Shares Bitcoin ETF (ARKB) captured 268 million dollars, while the grayscale Bitcoin Mini Trust ETF (BTC) and the Bitwise Bitcoin ETF (BitB) attracted 81 and 77 million dollars, respectively.
Eric Balchunas, ETF specialist at Bloomberg Intelligence, highlighted Ibit’s trading volume, which reached 5,000 million dollars, twice its averageafter registering 3.5 billion on Wednesday.
“This increase in upward price days anticipates possible flows of 1,000 million dollars in the next few days, driven by large companies,” he said. In this way, Ibit, Bitcoin’s ETF to the world’s largest cash, consolidates its leading market in the market.
On the other hand, Nate Geraci, a specialist in ETF, said that the financial advisors, who manage large sums of capital, just begin to include ETF of Bitcoin and Ether in their portfolios.
Geraci criticized that platforms as avant -garde still restrict these products, Despite capital entries close to record levels, which demonstrates a growing institutional interest.
This institutional appetite, together with the direct purchases of Bitcoin by companies for its treasury, has promoted The digital currency at a historical maximum above $ 118,000.
The dynamics of the ETF al Caé directly impacts the price, since the managers must acquire bitcoin to support the actions of these funds. A greater demand for these financial products forces firms to buy more BTC, raising their price by the supply and demand law.
Vincent Liu, director of Operations of Kronos Research, attributed this impulse to more stable macroeconomic conditions and a growing institutional adoption.
The businessman compared Bitcoin with gold, highlighting him as a long -term refuge asset. However, he warned that macroeconomic uncertainty, especially around the IPC data of July 15, It could generate a profit taking and stop the impulse if confidence in the market is not maintained.
