Bitcoin ETFs Inflows Reach $5 Billion in 15 Days
The U.S. spot Bitcoin ETFs have experienced a significant 15-day streak of net inflows, totaling around $5 billion, according to data from The Block. BlackRock's IBIT fund led the charge with most of the inflows, despite some funds like Ark Invest's ARKB experiencing minor outflows. This recent influx marks a deceleration from previous days' averages, hinting at waning but still substantial institutional interest as Bitcoin's price flirts near record levels. Since the start of 2024, Bitcoin ETFs have seen considerable success, overshadowing Ethereum ETFs, which began later and have accrued $4.2 billion in net inflows. Bitcoin's price, affected by volatile market dynamics, currently hovers below its recent peaks, adding uncertainty about future surges. Market analysts like Valentin Fournier suggest a need for fresh market catalysts to drive further growth. Meanwhile, Ethereum saw inflows led by the Fidelity FETH fund. Despite the cooling pace, medium-term projections for Bitcoin remain optimistic.
FAQ
❓ What is the recent performance of U.S. Bitcoin ETFs?
U.S. Bitcoin ETFs recently achieved a 15-day inflow streak, reaching nearly $5 billion.
❓ How did BlackRock's IBIT perform among Bitcoin ETFs?
BlackRock's IBIT was dominant, accounting for 81% of the inflows during the observed period.
❓ What are the future prospects for Bitcoin according to analysts?
Analysts highlight a slowdown in recent gains and suggest new catalysts are needed for further growth.