New Milestone: $2.2 Billion Inflows in a Week
Bitcoin spot exchange-traded funds (ETFs) have been a hit in the US, drawing in over $2.2 billion in inflows last week alone. This shatters the previous weekly record set during their first week of trading.
Competition Heats Up
Bitcoin ETFs have captured the attention of institutional investors, with trading volume indicating their popularity. In just two months, these ETFs have netted over $4.9 billion in inflows. Notably, this surpasses the inflows of many established ETFs in the US.
iShares Bitcoin Trust Dominates
BlackRock’s iShares Bitcoin Trust (IBIT) has been the star performer among Bitcoin ETFs. It accounted for $1.673 billion in net inflows last week, making it the third-largest inflow among all ETFs in the US.
Outflows from Grayscale Bitcoin Trust
While Bitcoin ETF inflows have been strong, the Grayscale Bitcoin Trust ETF (GBTC) has seen outflows. However, these outflows have slowed down recently, with GBTC experiencing $624 million in outflows during the week.
Bullish Price Momentum for Bitcoin
Bitcoin’s price has surged over 33% in the past month, recently topping $52,000 per coin. The fear of missing out on further gains is driving many new investors to Bitcoin ETFs.
Projections for Continued Growth
Analysts predict that inflows into Bitcoin ETFs could reach $150 billion by the end of 2025. With Bitcoin’s price looking poised for new highs, spot ETF trading is expected to continue driving gains throughout the week.
