New data from senior Bloomberg analyst Eric Balchunas reveals that US crypto ETFs (exchange-traded funds) beat out Vanguard\u2019s renowned S&P 500 ETF (VOO) in July.<\/p>\n
In a new thread on the social media platform X, Balchunas notes<\/a> that US crypto ETFs had a staggering $12.8 billion worth of inflows in July, outpacing all other ETFs, including VOO, which currently has $713.13 billion in assets under its management<\/a>.<\/p>\n \u201cUS Crypto ETFs took in $12.8 billion in July, the best month ever, [at] a $600m\/day pace, about double [the] average. As a group, that\u2019s more than any single ETF did, including the Mighty VOO. <\/em><\/p>\n Further, every ETF in [the] category took in cash (ex the converted trusts) w\/ Bitcoin and Ether making equal contributions. Most all-around dominant performance since the Eagles ended the Chiefs in the Super Bowl. Will be hard to top.\u201d<\/em><\/p>\n The analyst goes on to say<\/a> that asset management titan BlackRock\u2019s iShares Bitcoin Trust ETF (IBIT) is doing well and drawing in new customers.<\/p>\n \u201cAmazing stat: 75% of the investors who bought IBIT ($87 billion via one million people) were first-time customers of BlackRock. And 27% of them went on to buy another iShares ETF. Just a total coup for BLK all around.\u201d<\/em><\/p>\n According to Balchunas, IBIT \u2013 which launched in January 2024 \u2013 had a significant hand<\/a> in Bitcoin\u2019s (BTC<\/a>) massive price growth over the last two years.<\/p>\n \u201c1) ETFs hold BTC at a 1:1 ratio. There is no lending, there is no paper IOUs. ETFs are clean and above board and every dime of AUM is connected to the proportional Bitcoin. <\/em><\/p>\n 2) Zoom out: Bitcoin is up nearly 300%(!) since the infamous BlackRock filing two years ago. ETF flows big part of that.<\/em><\/p>\n 3) From what I am hearing on here, the selling is annoyed OGs who don\u2019t like that Wall St. and the government has adopted BTC. I guess they prefer BTC to have intermediaries like Sam Bankman-Fraud instead.\u201d<\/em><\/p>\n Bitcoin is trading for $113,763 at time of writing, a 3.2% decrease on the day while IBIT and VOO are valued at $64.27 and $572, respectively.<\/p>\n Follow us on X<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>   Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" New data from senior Bloomberg analyst Eric Balchunas reveals that US crypto ETFs (exchange-traded funds) beat out Vanguard\u2019s renowned S&P 500 ETF (VOO) in July. In a new thread on the social media platform X, Balchunas notes that US crypto ETFs had a staggering $12.8 billion worth of inflows in July, outpacing all other ETFs, […]<\/p>\n","protected":false},"author":2,"featured_media":400665,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-400664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/400664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=400664"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/400664\/revisions"}],"predecessor-version":[{"id":400667,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/400664\/revisions\/400667"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/400665"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=400664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=400664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=400664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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<\/center><\/p>\nDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n