A Resurgence in Bitcoin ETFs Investments with Over $12 Billion in Net Inflows

By: Eliza Bennet

Bitcoin ETFs Gain Momentum

There has been a resurgence in the investments in Bitcoin Exchange-Traded Funds (ETFs). Recent data indicates that Bitcoin (BTC) ETFs witnessed another day of consecutive inflows, totaling $183.0 million, equivalent to 2,587.9 BTC. This impressive performance comes amidst dwindling sales pressure recorded by Grayscale Bitcoin Trust (GBTC), which experienced a relatively smaller outflow of $104.9 million, equivalent to 1,482.8 BTC.

Bitcoin ETFs from various operators are displaying strong performance. Bitwise ETF attracted $67.1 million in inflows, marking its strongest day since the beginning of March, while the VanEck ETF also saw significant inflows of $20 million. These funds' health is a strong indicator of the market's renewed interest in these investment vehicles, despite the recent market turmoil.

To date, Bitcoin ETFs have witnessed a total net inflow of more than $12 billion, indicating increased investor confidence in these funds. Investing in Bitcoin ETFs is viewed as a simpler way to participate in the cryptocurrency market, bypassing the need to handle the Bitcoin asset directly.