Bitcoin exchange-traded funds (ETFs) have experienced a substantial surge in investments, with a noteworthy net inflow of $218 million today. This remarkable 18-day streak of consecutive gains sets a new record in the cryptocurrency market, indicating a growing confidence among investors in Bitcoin as a legitimate asset class.
Leading the charge in this surge is BlackRock’s IBIT, which saw a significant single-day inflow of $350 million, the highest level of investment in the past two months. This surge in IBIT investments signals a strong rebound and a high level of market demand.
However, not all funds experienced the same positive movement. Grayscale’s Bitcoin Trust (GBTC) faced an outflow after a brief period of inflows, showcasing the differing strategies and sentiments of investors in the ETF sector.
This unprecedented streak of inflows into Bitcoin ETFs highlights a notable shift towards cryptocurrencies in traditional investment portfolios. Analysts believe that continued interest from institutional investors could lead to market stabilization and a potential increase in Bitcoin’s price in the coming weeks.
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