In a historic development, exchange-traded funds (ETFs) for Bitcoin in the United States have achieved a remarkable milestone by accumulating a total of over $17 billion in inflows.

The remarkable milestone achieved sets a new precedent and emphasizes the escalating interest and investment in Bitcoin within the ETF market.

Based on the data tracked by Farside Investors, the substantial increase in net inflows was largely attributed to BlackRock’s IBIT, which saw a significant accumulation of $18.968 billion.

Additionally, Fidelity’s FBTC also made a substantial contribution, with net inflows reaching $9.962 billion.

On the other hand, Grayscale’s GBTC saw a substantial net outflow of $18.694 billion, indicating a significant shift in investor sentiment and asset allocation.

This suggests that investors are repositioning their holdings. Additionally, on July 17, the 11 US spot Bitcoin ETFs collectively registered a total daily net inflow of $53.35 million, marking the ninth consecutive day of positive inflows.

This sustained influx of capital into Bitcoin ETFs demonstrates continued investor interest in this asset class.

On the specified date, there was a noticeable decrease in the net inflow, falling significantly below the $422 million recorded on July 16.

Despite this, BlackRock’s IBIT continued to exhibit strong performance, with the most substantial net inflows of the day amounting to $110.37 million.

Additionally, the trading volume for BlackRock’s IBIT reached $1.21 billion, indicating a strong market presence and significant investor interest.

On July 17, Fidelity’s FBTC received a net inflow of $2.83 million, making it the only fund to experience positive flows.

In contrast, Grayscale’s GBTC saw net outflows of $53.86 million, while Bitwise’s BITB faced outflows of $6 million. Additionally, seven other funds, including ARK Invest and 21Shares’ ARKB, reported no net flows for the day.