Bitcoin ETFs See Record $488.24 Million Inflows Over 17-Day Growth Streak

  • The inflow of funds into Bitcoin (BTC) through spot exchange-traded funds (ETFs) in the U.S. continues to hit new milestones.
  • Spot Bitcoin ETFs in the U.S. saw a remarkable net inflow of $488.24 million on Wednesday alone.
  • Tuesday marked the second-best day ever for these ETFs with an inflow of $866 million.

Bitcoin ETFs in the U.S. are breaking records with consistent net inflows, reflecting growing investor confidence and interest in cryptocurrencies.

Non-stop Inflows for 17 Days

The streak of net capital flows into Bitcoin ETFs has been unbroken for 17 days as of the latest data. Tuesday’s capital influx brought in $866 million, making it the second-best day on record for these funds. This follows the previous record set during January-February, now matched by the recent performance.

Significant Impact on Bitcoin Prices

According to CoinGecko, Bitcoin’s price has appreciated by 4.7% over the past week, currently trading just below $71,000. This uptick in price aligns closely with the sustained inflows into Bitcoin ETFs, suggesting that these investments may be contributing to the positive momentum in the market.

Fidelity Leads the Charge

Data from SosoValue indicates that Fidelity’s FBTC fund witnessed the highest capital inflow on Wednesday, receiving $221 million. This substantial injection underscores the fund’s appeal among investors.

Competing Funds Also See Gains

BlackRock’s IBIT fund followed closely with a $155 million inflow, while Ark Invest and 21Shares’ ARKB fund attracted $71 million. Bitwise’s BITB fund garnered $19 million. Furthermore, Grayscale’s GBTC fund experienced growth for the second consecutive day, with an influx of $15 million. Other funds, including those from VanEck, Invesco, and Galaxy Digital, each reported $4 million in new investments.

Total Trading Volume Spikes

Spot Bitcoin ETFs’ overall trading volume reached $1.78 million on Monday and saw even higher figures on Tuesday and Wednesday, with $2.78 billion and $2.09 billion, respectively. This surge illustrates the increasing liquidity and investor engagement in the crypto ETF space.

Conclusion

The recent consistent inflows into U.S. spot Bitcoin ETFs highlight the growing trust and interest among investors in the cryptocurrency market. With over two weeks of uninterrupted growth, these funds are setting new benchmarks, reflecting bullish sentiment and potentially driving up Bitcoin prices further. As institutional and retail interest in digital assets continues to rise, the crypto ETF market is likely to experience sustained growth.

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