Investor interest in spot Bitcoin ETFs offered by major US-based financial institutions started the week strong. Products led by giants such as BlackRock and Fidelity have experienced remarkable net inflows in the last three days.
New wind in ETFs: Rising fund flow
On Monday, there were net inflows totaling $532.21 million into the largest ETFs, primarily BlackRock’s iShares Bitcoin Trust. The product that attracted the most investment was BlackRock, which raised $335.49 million alone. Fidelity’s Wise Origin Bitcoin Fund ranked second with an inflow of $184.57 million. Morgan Stanley’s Bitcoin ETF remained at $12.16 million, with a lower entry. Other funds showed a relatively flat picture.
When the activity at the end of last week was added to these figures, it was seen that there was an inflow of 629.73 million dollars into the funds on Friday alone. Thus, with demand increasing for three consecutive days, the total net money inflow in the funds exceeded 1.1 billion dollars. Previously, there was a total outflow of $490.63 million for three consecutive days and investors moved away from ETFs for a short time.
Upward movement in Bitcoin price
The optimism in the market was also reflected in the price of Bitcoin. Bitcoin, which started the week below $ 79,000, made a rapid recovery during the day. Cryptocurrency, which rose above $ 80,000 in a short time and approached the $ 81,500 band, encountered some resistance here. However, it was noted that, in general, the rise occurred not with sudden and sharp jumps, but with stable purchases.
As of press time, Bitcoin was trading at $80,700. According to CryptoAppsy data, Bitcoin’s price maintained its strong stance despite short-term fluctuations during the day.
“The rapid recovery seen in ETFs in the last three-day period suggests that institutional investors tend to regain confidence in the market.”
Ethereum ETFs and the impact of global markets
Not only Bitcoin but also spot Ethereum ETFs attracted attention with a net fund inflow of $61.29 million on the first day of the week. These products had a stronger entry on Friday with $101.18 million. The total flow to Ethereum funds has reached a significant threshold, crossing the $12 billion threshold.
After the sharp fluctuations and successive outflows at the end of April, it was stated that these fund inflows from both Bitcoin and Ethereum reduced the uncertainty in the market.
Analysts think that the improvement in macroeconomic conditions and continued demand for ETFs indicate that crypto markets are starting to regain confidence.
