Bitcoin exchange-traded funds (ETFs) have experienced a remarkable surge, with a net inflow of $218 million today, marking a record-breaking 18-day winning streak in the cryptocurrency market. This prolonged period of growth underscores the increasing confidence of investors in Bitcoin as a viable asset class.
On June 6, 2024, the net inflow reached a milestone of +$218M, maintaining a positive trend for 18 consecutive trading days, the longest streak seen to date. Additionally, BlackRock’s IBIT saw a significant single-day inflow of $350 million, the highest level of investment in the past two months, signaling a strong rebound and a healthy appetite in the market.
However, not all funds experienced the same positive movement. Grayscale’s Bitcoin Trust (GBTC) faced another outflow after briefly enjoying two days of inflows. This contrast in performance among ETFs demonstrates the varying strategies and sentiments of investors in the market.
The ongoing influx of investments into Bitcoin ETFs highlights a notable shift towards cryptocurrencies in traditional investment portfolios. Analysts believe that continued interest from institutional investors could contribute to market stabilization and potentially drive up Bitcoin’s price in the coming weeks.
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BTC
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