Record-breaking weekly inflows of $3.06 Billion for Bitcoin ETFs, second only to the all-time high.
In a clear indication of Bitcoin's expanding grip among institutional investors, spot Bitcoin exchange-traded funds (ETFs) racked up an astounding $3.06 billion in net inflows last week, marking the second-largest weekly performance since the U.S. Securities and Exchange Commission (SEC) greenlit these ETFs in January 2024.
Data from SoSoValue reveals an escalating institutional commitment, with the recent $3.06 billion in net inflows only trailing the record $3.38 billion attracting ETFs in November 2024. The $2.73 billion raised between late November and early December 2024, and the $2.57 billion from mid-March 2024 comprise the next top inflows, respectively.
Weekly net inflows frequently surpassed the $2 billion mark, with noteworthy instances in the second week of February 2024 ($2.27 billion), the first week of March 2024 ($2.24 billion), and the first week of November 2024 ($2.22 billion). April 22 and 23 were highly contributory to this stellar surge, contributing daily totals of $936.43 million and $916.91 million, respectively. Inflows decreased slightly towards the end of the week, with $442 million on Thursday 24 and $377 million on Friday 25.
BlackRock's iShares Bitcoin Trust (IBIT) claims the top spot among BTC ETFs, boasting a cumulative net inflow of $41.2 billion. The Fidelity Wise Origin Bitcoin Fund (FBTC) follows closely behind, appearing on the scene with about $11.86 billion in net inflows, while Grayscale's GBTC struggles with a $22.69 billion outflow.
These enormous inflows into Bitcoin ETFs, combined with purchases from corporations and other organizations, contribute to greater overall stability in Bitcoin's price[3]. Despite weak retail interest, as indicated by relatively low Google search traffic,Bitcoin's price skyrocketed past $94,000 due to this institutional activity and expert opinion suggests further bullish runs beyond the $100,000 mark, with some analysts even anticipating a price surge to $155,000[1].
Curious about the impact of Bitcoin ETFs? As of now, you can find 18 Bitcoin-related ETFs on the market, consisting of 12 spot Bitcoin ETFs and 6 strategy ETFs offering indirect exposure to Bitcoin[2]. Delve deeper into ETF performance by consulting financial databases or reports for comprehensive insights into specific ETFs.
Sources:1. Bitcoin's surge past $94k sees analysts forecasting $100k and beyond2. Bitcoin ETF Guide: How They Work, Who Offers, And When To Buy3. These institutional investors are buying Bitcoin like there's no tomorrow4. Bitcoin ETF victories in the United States, Canada, and (now) Brazil5. The SEC's approval of the first Bitcoin ETF has changed the crypto world
- The unprecedented inflows of $3.06 billion into spot Bitcoin exchange-traded funds (ETFs) last week decisively underscores the growing interest of institutional investors in Bitcoin and related cryptocurrencies.
- As the technology behind Bitcoin, blockchain, continues to unfold in the finance sector, cryptocurrency trading has seen a significant surge, with Bitcoin ETFs attracting billions of dollars in net inflows.
- Among the 18 Bitcoin-related ETFs currently available, BlackRock's iShares Bitcoin Trust (IBIT) has managed to secure a foothold, amassing a cumulative net inflow of $41.2 billion.
- The recent net inflows into Bitcoin ETFs, along with purchases from corporations and organizations, have contributed decisively to a greater overall stability in Bitcoin's price.
- While retail interest in Bitcoin remains relatively low, as indicated by Google search traffic, the combined institutional activity and expert opinion suggest further bullish runs beyond the $100,000 mark, with some analysts even anticipating a price surge to $155,000.
- For those curious about the impact of Bitcoin ETFs on the market, it's advisable to delve deeper into ETF performance by consulting financial databases or reports for comprehensive insights into specific ETFs.
