Cryptocurrencies

Big money is back, Bitcoin rises 3% and ETFs show strong numbers


Bitcoin has been going up and down in recent weeks, after a red period the price can write green figures again. For diehard crypto investors like you and me this is normal. We know the ropes and eat the risks for breakfast on a Sunday morning.

But you know who normally doesn’t like risk? Big financial institutions. They have to be accountable to their customers and that works best by investing in safe assets. Think of commodities or government bonds.

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This year, however, we have seen a turnaround. Since the launch of Bitcoin ETFs, pension funds, family offices and other financial players have poured billions into BTC.

For a moment it seemed as if risk aversion was gaining the upper hand, as more and more money was flowing out Bitcoin ETFsHowever, recent days have shown that the big players are far from done with Bitcoin.

Big money is going back to Bitcoin ETFs

On July 8, $295 million was raised registeredmarking the first positive net inflow across all funds in three trading weeks. On July 9, BlackRock’s ETF, the iShares Bitcoin Trust, saw the largest inflow across all funds for the second day in a row, at $121 million.

Fidelity’s Wise Origin Bitcoin Fund followed with $91 million, up $30 million from the previous day.

The ARK 21Shares Bitcoin ETF (ARKB) came in third with inflows of $43.3 million. This is quite a feat considering that this fund only attracted $8.4 million as of July 8.

Despite Monday’s positive result for the Grayscale Bitcoin Trust, the ETF recorded another $37.5 million in outflows yesterday.

What is an ETF and what does it have to do with Bitcoin?

An ETF, or Exchange Traded Fund, is a basket of investments that trades on a stock exchange, just like a stock. ETFs can be made up of different assets, such as stocks, bonds or commodities.

In the case of Bitcoin ETFs, the ETF invests in Bitcoin.

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