Key dealers
- Spot Bitcoin ETF Market Cap is approaching $ 150 billion, which reflects explosive institutional growth.
- Blackrock’s Ibit leads the market with over $ 83 billion in bitcoin under management.
Bitcoin’s rally over $ 123,000 this week is driven by an increase in institutional demand, with Spot ETF inflows that top $ 4 billion alone in July.
The price jump, from $ 105,000 at the beginning of the month to record high on Monday, reflects growing confidence from both retail and institutional investors.
The total market for Tot Bitcoin ETFS is now approaching $ 150 billion, which reflects the scope of capital flowing into these vehicles since their launch of January 2024. Blackrock’s Ishares Bitcoin Trust (Ibit) has only over $ 83 billion, making it the dominant player in the sector.
Spot Bitcoin ETFS saw over $ 4 billion in inflows alone in July, the strongest monthly increase since the products were launched. More than $ 2.2 billion flowed last Thursday and Friday, led by Blackrock’s Ibit, which captured $ 1.35 billion during both days.
Bitcoin lasted around $ 117,700. With demand rising and ETF flows accelerate, analysts say that a step towards $ 140,000 in the coming months remains.