Growing Investor Interest
Bitcoin spot ETFs have seen a remarkable turnaround in recent weeks, with positive inflows for two consecutive weeks. This shift reflects a surge in investor confidence in these investment products.
Significant Inflows
On Friday, May 24th, the US Bitcoin spot ETF market recorded a net inflow of $252 million, marking the 10th consecutive day of significant investment. BlackRock’s IBIT ETF accounted for a large portion of the inflows, with $182 million. Other issuers like Fidelity, Bitwise, and ARK Investment also saw notable inflows.
Weekly Inflows Surpass $1 Billion
Over the past week, the Bitcoin spot ETF market has attracted a total net inflow of $1.06 billion. This sustained positive trend suggests that investor confidence in Bitcoin ETFs is at an all-time high.
Potential Catalyst for Crypto Market
With Ethereum spot ETFs also set to launch in the US, crypto exchange-traded products are gaining popularity. These products could potentially serve as a catalyst for the resumption of the crypto bull cycle, particularly for Bitcoin.
Bitcoin Price Update
As of writing, Bitcoin is trading at $68,868, up 2.5% in the past 24 hours and 3% over the past week.
