The US spot Bitcoin ETFs have been once again in the limelight as inflows have gathered pace recently. On Tuesday, July 9, the spot Bitcoin ETFs recorded $214 million in inflows, with BlackRock’s IBIT leading the show.
BlackRock’s IBIT Scoops 2134 BTC
Yesterday, the BlackRock Bitcoin ETF IBIT registered $121 million in inflows scooping a total of 2134 BTC in its kitty. A day before the BlackRock IBIT inflows stood at a massive $187 million while managing to scoop over 3,300 Bitcoins as the BTC price crashed all the way to $53,500 earlier on Monday.
Well, it clearly goes to show that the Bitcoin ETFs have been absorbing most of the selling pressure caused by the recent selling by the German government. Currently, the total inflows in US BTC ETFs have touched a 3-week high. As the BTC price crashes to new lows, long-term holders of Bitcoin ETFs see this as a great opportunity to stack more quantity at a discounted price.
BlackRock buys 2134 BTC ($121m)!
IBIT holders thank Germany fo
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