$600M In 1 Day: Why Are Bitcoin, Ethereum ETF Suddenly So Bullish?
As Bitcoin rebounds back to $119,000, spot Bitcoin (CRYPTO: BTC) ETFs saw a net inflow of $403 million on Jul. 15, marking the ninth consecutive day of positive flows, according to data from SoSoValue.
Spot Ethereum (CRYPTO: ETH) ETFs also recorded a net inflow of $192 million, extending their own streak to eight days.
What Happened: The cumulative inflows into spot Bitcoin ETFs have now reached $53 billion, while Ethereum ETFs have gathered $5.7 billion.
The total assets under management for US spot Bitcoin ETFs stand at $149.6 billion, representing 6.4% of the total Bitcoin market cap.
Ethereum ETFs hold $14.2 billion, accounting for 3.8% of the Ethereum market cap.
The renewed inflows into flagship ETFs come at a time of heightened institutional activity and a shift in the broader crypto narrative.
“Bitcoin broke out toward a new all-time high …
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