Crypto Daily｜Bitcoin ETFs Draw Cash Again as Token Remains 50% Below Record; Strategy Extends Bitcoin Buying Pause, Boosts Cash Reserve to $3.2B

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Bitcoin ETFs Draw Cash Again as Token Remains 50% Below Record

US-listed spot Bitcoin exchange-traded funds recorded a second consecutive week of net inflows after nearly two months of capital flight, raising hopes that cryptocurrencies may be finding a floor.

The 13 spot Bitcoin ETFs attracted $75.7 million last week, adding to the $197.4 million they secured the previous week. That’s despite investors draining $424.7 million from the funds last Monday after renewed military conflict between the US and Iran.

The reversal, combined with flows into ETFs tied to Ether, the second-largest cryptocurrency, could signal positive sentiment returning to the market, according to Richard Galvin, executive chairman at crypto investment firm DACM.

Strategy Extends Bitcoin Buying Pause, Boosts Cash Reserve to $3.2B

Strategy, the world’s largest corporate bitcoin holder, raised its cash reserve by roughly $225 million last week after selling common stock, bolstering liquidity while leaving its bitcoin holdings unchanged.

Michael Saylor, executive chairman of the firm, said Monday that Strategy now holds a U.S. dollar reserve of $3.225 billion alongside its 843,775 BTC stash.

A regulatory filing showed the company sold over 2.7 million MSTR shares for roughly $263.5 million through its at-the-market equity program.

Bitmine expands Ethereum treasury to 5.78 million ETH, repurchases 5.5 million shares

Bitmine Immersion Technologies increased its Ethereum treasury to 5,777,468 ETH while repurchasing 5.5 million common shares under its previously authorized $4 billion buyback program, the company said Monday.

At current prices, the Ethereum treasury is worth about $10.8 billion, keeping Bitmine as the largest corporate ether holder globally and the second-largest corporate digital asset treasury behind Strategy, according to a statement. 

Bitcoin & Ethereum Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Tuesday was $110.44 million. The total net asset value of Bitcoin spot ETFs is $78.31 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 2.37%.

The Bitcoin spot ETF with the highest net inflow on July 21 was ARK 21Shares Bitcoin ETF, with a net inflow of $72.74 million, according to SoSoValue.

Source: SoSoValue