This week’s Bitcoin rally, past $123,000, is driven by a surge in institutional demand as the influx of Spot ETFs, which has risen, over $4 billion in July alone.
The price rise from $105,000 on Monday to a record high on Monday reflects a growing confidence from both retail and institutional investors.
The total market capitalization of the Spot Bitcoin ETF is currently close to $150 billion, reflecting the size of capital flowing through these vehicles since its launch in January 2024. Black Rock iShares Bitcoin Trust (go) He owns more than $83 billion on his own, making him the dominant player in the sector.
According to Farside Investors, Spot Bitcoin ETF saw an influx of over $4 billion in July alone. data. More than $2.2 billion went on last Thursday and Friday, led by BlackRock’s IBIT, winning $1.35 billion on both days.
Bitcoin was last traded at around $117,700. With demand rising and ETF flows accelerating, analysts say the move to $140,000 in the coming months continues.
