Bitcoin ETFs add 526 BTC worth $33M for July markets

The United States Securities and Exchange Commission gave Bitcoin ETFs a trading chance in January 2024. As the second half of the year begins, nine out of the 11 approved BTC ETFs have added $33 million to their trading portfolios.

Bitcoin ETFs gain more trading grounds

According to on-chain data presented by Lookonchain, nine BTC ETFs have bought 526 more Bitcoins worth $33 million. At the time of writing, Bitcoin is worth $63,229. Its price is up 2.8% from the weekend market decline.

Lookonchain reports that Blackrock added 1,366 Bitcoin, which is currently worth $85.9 million. As of today, the trading behemoth holds 306,979 BTC, worth $19.3 billion.

BlackRock trades iShares Bitcoin Trust with the ticker IBIT. Recent reports from Bloomberg Línea show that BlackRock introduced IBIT to Chile. IBIT began trading at the Santiago Stock Exchange, Chile’s main financial market.  

Patricio Rojas, the general manager of the Santiago Stock Exchange, welcomed IBIT’s trade, saying that there had been “significant progress in the diversification of products available for our market.”

On the other hand, Grayscale has lost 198 Bitcoin worth $12.4 million. The firm currently holds 275,758 Bitcoin worth $17.34 billion.

In addition, the Fidelity Wise Origin Bitcoin Fund (FBTC) had a negative 24-hour BTC inflow and lost 437 BTC. Invesco Galaxy Bitcoin ETF has also been on a losing train. The entity has had a negative 24-hour net inflow of 201 BTC.

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Also Read: Bitcoin open interest high: Short positions fueling the fire?

Florence Muchai

Florence Muchai is an experienced crypto journalist with 4 years experience in Crypto, Blockchain, Web3, NFT and AI. Florence holds a Bachelor's Degree in Disaster Management and International Diplomacy. She also has a Master's Degree in Clinical Psychology. Florence enjoys being a digital nomad and her writings tell value, wealth and in-depth understanding of decentralized and traditional finance.

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