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Bitcoin ETFs keep breaking records

Investors have again flocked to Bitcoin ETFs this week.

By Mike Hesp
• 2 min read
Bitcoin ETFs keep breaking records

Investors have again flocked to Bitcoin ETFs this week. Found their way to Bitcoin ETFs. In just Tuesday, June 24, inflows of 588.6 million U.S. dollars poured into these funds. On Wednesday, June 25, another 547.7 million dollars followed. That pushes this week's inflows past the one-billion-dollar mark, a strong sign that institutional interest in BTC is far from cooled off.

The trend has been positive for twelve trading days in a row: since June 6 there hasn’t been a single day with net money flowing out of the BlackRock, Fidelity and peers’ funds. On that day only a few million flowed out; since then it’s only moved higher.

This steady inflow via ETFs is putting structural buying pressure on the Bitcoin market. The market leader BlackRock currently holds 692,876 BTC for its clients, about 3.2 percent of all Bitcoins in circulation. The role of ETFs as a long-term driver for price development is becoming clearer.

Ethereum is also on the rise. Since the ETH ETFs were approved, more than four billion dollars have flowed into these new index products. Institutional adoption of crypto is accelerating and ETFs are the bridge.

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