Bitcoin Spot ETF Records Consecutive Weeks Of Inflows As Investor Confidence Grows

Ethereum
exchange-traded
funds
(ETF)
have
been
the
talk
of
the
town
–
and
rightly
so
–
after
the
United
States
Securities
and
Exchange
Commission
(SEC)
approved
the
listing
of
the
investment
products
during
the
week.
Meanwhile,
the
Bitcoin
spot
ETF
market
continued
its
resurgence
on
one
side,
marked
by
a
second
consecutive
week
of
positive
inflows.

This
streak
of
positive
inflows
represents
a
complete
shift
from
previous
weeks
when
investment
activity
was
dangerously
low.
However,
this
recent
turnaround
reflects
a
rise
in
investor
confidence
over
the
past
two
weeks.

Bitcoin
Spot
ETF:
$252
Million
In
Net
Inflows
In
One
Day

On
Friday,
May
24,
the
US
Bitcoin
spot
ETF
market
saw
another
day
of
positive
inflows,
marking
the
10th
consecutive
day
of
significant
investment
into
these
funds.
According
to

data
from
SoSoValue,
the
market
recorded
a
total
net
inflow
of
approximately
$252
million
to
close
the
week.

Related
Reading

Breaking
this
down,
BlackRock
amassed
a
substantial
percentage
of
the
total
daily
investment,
with
the
IBIT
ETF
posting
an
inflow
of
$182
million.

Grayscale
Bitcoin
Trust
(GBTC),
on
the
other
hand,
did
not
attract
any
capital
on
Friday,
ending
the
week
with
zero
daily
outflows
and
inflow.

Other
ETF
issuers,
such
as
Fidelity,
Bitwise,
and
ARK
Investment,
also
witnessed
impressive
inflows
on
Friday.
Most
notably,
Fidelity’s
FBTC
came
second
to
BlackRock’s
fund
after
attracting
about
$43.7
million
on
the
last
day
of
the
week.

Source:

SoSoValue/X

More
importantly,
this
positive
inflow
day
means
that
the
Bitcoin
spot
ETF
market
has
amassed
significant
investment
every
day
for
the
second
week
in
a
row.
And
after
the
close
of
Friday’s
trading
session,
the
net
inflow
in
the
past
week
stood
at
an
impressive
$1.06
billion.

This
sustained
positive
trend
in
terms
of

capital
inflow
suggests
that
investor
confidence
in
Bitcoin
ETFs
might
be
back
at
an
all-time
high.
The
last
time
there
was
a
consistent
positive
capital
inflow
into
these
products,
the
Bitcoin
price
rose
to
a
new
all-time
high.

With
Ethereum
spot
ETFs
on
the
brink
of
trading
in
the
US,
crypto
exchange-trade
products
seem
to
be
in
fashion
at
the
moment.
And
they
might
just
be
the
catalyst
that
the
crypto
market
–
particularly
Bitcoin
–
needs
to

resume
what
is
left
of
the
bull
cycle.

Bitcoin
Price
At
A
Glance

As
of
this
writing,

Bitcoin
is
valued
at
$68,868,
reflecting
a
2.5%
price
increase
in
the
last
24
hours.
According
to
data
from
CoinGecko,
the
premier
cryptocurrency
is
up
by
3%
on
the
weekly
timeframe.