Bitcoin ETFs Accumulate Nearly $1 Billion in Inflows

Bitcoin ETFs Accumulate Nearly $1 Billion in Inflows

By: Isha Das

Bitcoin Exchange-Traded Funds (ETFs) have attracted almost $1 billion in fresh investments over a span of five days, reflecting a surge in interest in the top cryptocurrency. This influx has coincided with Bitcoin’s price climbing above $68,000, driven by promising inflation data.

According to data from Farside, Bitcoin ETFs garnered an impressive $948.3 million from March 11 to March 15. On May 17 alone, these ETFs saw a staggering $221.5 million in net inflows, with major players like Fidelity’s FBTC and BlackRock’s IBIT leading the charge.

Fidelity’s FBTC saw inflows of $99.4 million, while BlackRock’s IBIT and Grayscale's GBTC recorded $38.1 million and $31.6 million, respectively. Overall, the US Bitcoin ETFs have amassed a total of $12.6 billion in net assets.

The positive traction showcases the growing confidence in Bitcoin-based financial products, with the nine new BTC ETFs surpassing 550,000 BTC in holdings, as reported by Heyapollo. This trend is indicative of the increasing institutional adoption of Bitcoin as a viable investment asset.

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