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First Mover Americas: Bitcoin Bulls Hopeful Entering July as ETFs Record $130M Inflows

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Jamie Crawley is a CoinDesk news reporter based in London.

The first day of the month saw U.S.-listed ETFs record nearly $130 million in inflows – the most since early June – after more than $900 million in outflows over the month. Over the last decade, bitcoin has gained by an average of more than 11% in July, with positive returns in seven of the 10 years, data shows. Bitcoin is currently trading at around $62,600, a drop of about 0.15% in the last 24 hours. The CoinDesk 20 Index is down by around 0.2%.

The flows, when combined with the current Grayscale Ethereum Trust assets under management give a total AUM for spot ETH ETFs in the U.S. of $13 billion-$15 billion in the first six months, the report said. Gemini noted that ether’s market value relative to bitcoin remains close to multiyear lows, and the inflows could improve ether's relative standing.

 

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