Bitcoin ETFs have recorded daily net income of over $422M, with BTC seeing a 10% weekly gain.

Bitcoin exchange-traded funds (ETFs) offered in the United States recorded the highest inflow since June 5.

According to public data from SoSoValue, $422 million entered the market on July 16. This is the eighth day that the investment vehicles have recorded consecutive inflows.

BlackRock leads the charge.

Investment giant BlackRock led the chart as usual. During this period, the IBIT product saw revenue of $260.23 million on a turnover of $1.02 billion.

In particular, the firm's Bitcoin ETF business was a major contributor to its recent $10.6 trillion worth of assets under management (AUM). Even the company's CEO has abandoned his previous pessimistic view of Bitcoin as an investment opportunity.

Fidelity's FBTC set the IBIT record with net income of $61.05 million and trading volume of $255.45 million. Ark Invest's ARKB and Bitwise's BITB followed with positive flows of $29.85 million and $17.34 million, respectively.

While most of the 11 Bitcoin ETF issuers recorded an income stream, some saw no net income at all. These are WisdomTree's BTCW, Hashdex's DEFI and Grayscale's GBTC. Still, cumulative net income rose to $16.53 billion, a sharp increase from the day before.

BTC return more than $65 thousand

A steady stream of Bitcoin ETFs entering the space has had a positive impact on the price of BTC. Last week, the price of the leading crypto asset fell to $56,700 and remained below $60,000 for most of the previous week. This slowing trend is due to the ongoing sale of BTC by the German government and uncertainty about the distribution of Mat Gox. As the European country's BTC reserves decreased, BTC started to recover from the lows.

Today, BTC re-entered the $65,000 price mark. At the time of writing, the largest crypto asset was traded at $65,100, representing a 10.78% increase over the past week.

Ironically, the cryptocurrency exploded over the weekend after the assassination attempt on the pro-digital asset of the United States presidential candidate – Donald Trump.