Bitcoin exchange-traded funds (ETFs) have experienced a notable surge, with a net inflow of $218 million today, marking a record-breaking 18 consecutive days of gains in the cryptocurrency market. This streak highlights a growing investor confidence in Bitcoin as a legitimate asset class.
The remarkable increase in Bitcoin ETF investments is led by prominent funds such as BlackRock’s IBIT, which saw a substantial single-day inflow of $350 million. This influx is the highest level of investment in the past two months for IBIT, indicating a strong market rebound and a healthy appetite for cryptocurrency.
However, not all funds enjoyed the same success. Grayscale’s Bitcoin Trust (GBTC) faced outflows after a brief period of inflows, showcasing the contrasting movements within the ETF sector and the different strategies and investor sentiments at play in the market.
This continuous inflow streak into Bitcoin ETFs signifies a significant shift towards cryptocurrency in traditional investment portfolios. Analysts believe that continued interest from institutional investors could bring stability to the market and potentially drive up Bitcoin’s price in the coming weeks.
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