Bitcoin ETFs See $602 Million Inflow as Institutional Interest Surges

On July 3, Bitcoin ETFs experienced a substantial influx of institutional capital, totaling over $602 million in a single trading session. This significant inflow underscores the renewed interest from Wall Street as Bitcoin prices approach the $110,000 mark.

Fidelity's FBTC ETF led the surge, attracting $237 million, solidifying its position as a market leader. ARK Invest's ARKB followed closely with $114 million, while Bitwise's BITB added $15.53 million. Notably, Grayscale's GBTC, which had been experiencing outflows, saw a net inflow of $5.84 million, indicating a potential shift in investor sentiment.

In addition to Bitcoin ETFs, Ethereum ETFs also saw substantial inflows, totaling $149 million. However, Grayscale's ETHE experienced an outflow of $5.35 million, contrasting with the overall inflow trend in the sector.

The surge in capital through ETFs coincides with Bitcoin's recent break above a key descending resistance line, bringing it closer to the critical resistance zone between $110,000 and $115,000. Market indicators remain positive, although the RSI is around 57, suggesting some caution due to potential profit-taking.

Over the past two weeks, Bitcoin spot ETFs have seen over $3 billion in net inflows, bringing total net assets to $137 billion. This amount represents approximately 63.3% of Bitcoin's total market capitalization, highlighting the growing importance of ETFs as a primary entry point for large investors seeking exposure to Bitcoin.

Analysts are closely monitoring whether continued ETF inflows can propel Bitcoin beyond its current resistance levels. A break above $115,000 could pave the way for a move towards $120,000. However, the $100,000 to $103,000 range is seen as a potential short-term pullback zone if buying momentum wanes.

Wall Street's aggressive return to Bitcoin ETFs reflects the growing acceptance of the asset among institutional investors. As capital continues to flow into regulated crypto instruments, the sustainability of these inflows will be crucial in determining Bitcoin's path to new highs.