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This was a great week for U.S. Bitcoin ETFs, with over $657 million in inflows. Apparently, the ETFs were able to swallow 11,188 Bitcoins, representing almost five times the 1,800 Bitcoins mined in the same period. The standouts this week were Grayscale’s GBTC and BlackRock’s IBIT, which showed significant inflows, signifying strong institutional participation.
After the severe loss at the beginning of this year, U.S. spot Bitcoin ETFs have now rebounded in a huge way, as indicated by their net inflow of $257 million. This was a testament to growing confidence in digital assets, with heavyweight financial players now involved in the industry and over 700 institutions targeting Bitcoin.
Hong Kong Bitcoin ETFs, on the other hand, attracted a cooler welcome, posting outflows of $25 million. However, industry experts are extremely optimistic, awaiting the expected significant increases with the evolution of the global ETF market, which places Bitcoin at the forefront of being a leader in the investment sector.
