Bitcoin exchange-traded funds (ETFs) are experiencing a remarkable surge, with a net inflow of $218 million today, marking an impressive 18-day streak of consecutive gains in the cryptocurrency market. This streak has broken previous records and showcases the increasing confidence of investors in Bitcoin as a valuable asset class.
The significant boost in Bitcoin ETF investments is led by prominent funds like 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 rebound and a healthy appetite in the market.
However, not all funds are experiencing the same positive movement. Grayscale’s Bitcoin Trust (GBTC) faced outflows again after a brief period of two days of inflows. This varied response within the ETF sector highlights the different strategies and investor sentiments prevailing in the market.
The ongoing streak of inflows into Bitcoin ETFs signifies a notable shift towards cryptocurrency in traditional investment portfolios. Analysts believe that continued interest from institutional investors could help in stabilizing the market further and potentially boosting Bitcoin’s price in the coming weeks.