Bitcoin is on the rebound, and institutional investors are jumping on board. Spot Bitcoin ETFs, which allow investors to buy Bitcoin without directly owning it, saw a huge influx of cash last week.
A Record Week for Bitcoin ETFs
JPMorgan reported that Spot Bitcoin ETFs saw their best week in over a month, with $882 million flowing into these funds. This is the highest weekly inflow since May 23rd. Adding in the 
$310.1 million that flowed in on June 12th, this week’s total is actually the highest since March!
BlackRock’s IBIT and Fidelity’s FBTC were the biggest winners, taking in $120 million and $115.1 million respectively. Other popular ETFs like Bitwise’s BITB, Grayscale’s GBTC, Ark Invest’s ARKB, and VanEck’s HODL also saw significant inflows.
Is the Worst Over for Crypto?
The crypto market has been struggling lately, but there’s hope on the horizon. The German government, which has been selling off its Bitcoin reserves, is now out of Bitcoin. This, combined with the strong inflows into Spot Bitcoin ETFs, suggests that Bitcoin is poised for a comeback.
And there’s more good news: Spot Ethereum ETFs are expected to launch soon, which could give Bitcoin and the broader crypto market another boost.
With institutional investors pouring money into Bitcoin and new ETFs on the way, it looks like the crypto market is turning a corner.
