Bitcoin exchange-traded funds (ETFs) have experienced a remarkable surge, with a total inflow of $218 million today, marking a record-breaking streak of gains in the cryptocurrency market. This 18-day run surpasses previous milestones and showcases a growing trust from investors in Bitcoin as a legitimate asset class.
The influx of funds into Bitcoin ETFs is led by prominent players such as BlackRock’s IBIT, which saw a significant single-day inflow of $350 million. This marks the highest level of investment in the past two months for IBIT, indicating a strong comeback and a healthy demand in the market.
On the other hand, there were contrasting movements within the ETF sector. Grayscale’s Bitcoin Trust (GBTC) experienced outflows again after a brief period of inflows, highlighting the varied strategies and investor sentiments prevailing in the market.
This 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 provide stability to the market and potentially boost Bitcoin’s price in the upcoming weeks.
Tags: BTC, ETF
