BlackRock’s iShares Bitcoin Trust (IBIT) attracted significant net inflows of $526.7 million on July 22, signaling growing investor enthusiasm for spot Bitcoin funds. Collectively, ten spot Bitcoin ETFs, excluding Bitwise’s BITB, achieved their twelfth consecutive day of gains, amassing nearly $534 million in inflows.

Following IBIT, the Fidelity Wise Origin Bitcoin Fund (FBTC) received $23.7 million in inflows, while the Invesco Galaxy Bitcoin ETF (BTCO) attracted $13.7 million. The Franklin Bitcoin ETF (EZBC) reported $7.9 million in inflows, whereas spot Bitcoin ETFs from ARK 21Shares, Valkyrie, Grayscale, Hashdex, and WisdomTree saw no new flows. In contrast, the VanEck Bitcoin ETF (HODL) experienced outflows of $38.4 million, marking it as the only fund to report losses on Monday.

With these gains, IBIT’s market cap has now surpassed $22 billion. IBIT has outperformed the Nasdaq ETF in inflows this year, ranking fourth among over 3,000 US ETFs. Over the past two weeks, US spot Bitcoin ETFs have collectively captured over $2 billion, with year-to-date net inflows reaching $17 billion. This robust performance underscores increasing investor confidence in Bitcoin ETFs as a mainstream financial asset.

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With Bitcoin 2024 fast approaching – July 25-27 in Nashville, TN – three enterprising fund managers are competing to win $1 million in seed capital in the Bitcoin Alpha Competition powered by Samara Alpha Management in partnership with Bitcoin Magazine Pro.In a recent podcast, Bitcoin Magazine sat down with the Bitcoin Alpha Competition judges to discuss the state of the Bitcoin market and how individual investors are leveraging their agility to front-run larger capital allocators as Bitcoin moves into the age of institutional adoption.Patrick Lowry, judge of the Bitcoin Alpha Competition and CEO of Samara Asset Group, believes that while Spot ETFs have been a resounding success,…

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The New York Stock Exchange Arca (NYSE Arca) has accepted and approved the trading of Ethereum exchange-traded funds by Grayscale and Bitwise, as a landmark in the acceptance of cryptocurrencies. The approval by the U.S. Securities and Exchange Commission now opens doors for investors to have access to regulated access to Ethereum without taking the rather complicated route of direct ownership. This just underlines growing integration of crypto assets into traditional financial markets.

Grayscale and Bitwise have passed a two-step regulatory process, with initial approval from the SEC secured in May, soon to be followed by the start of trading. Final approval, due by Monday, would allow those ETFs to launch operations, opening the doors for investors to increase their playing field. This will not only just make cryptocurrency investments more accessible but also add to their legitimacy.

At the same time, other large exchanges such as Cboe have their Ethereum ETFs launching, with heavyweights such as Fidelity and VanEck participating. The coordination of these launches can be really influential in the crypto market and in turn drive further acceptance and mainstreaming into core investment portfolios.

The story of human progress can be simplified into the story of increasing energy utilization. We harness energy to create order, both in terms of biology and society. Energy surpluses allow for every form of wealth creation, which in turn produce new technologies to effectively harness yet more energy. This truth has inspired famous concepts such as the Kardashev scale, which measures civilizations by their ability to harness energy resources towards useful ends.

Compute is a natural continuation of this endeavor. Modern digital technology transforms ever greater quantities of electricity into advanced value-creating processes. The most recent surge in demand for compute has come from…

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