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Bitcoin ETFs Are Making a Comeback

After a mixed week, there's good news again for the U.S. Bitcoin Spot ETFs.

By Mike Hesp
• 2 min read
Bitcoin ETFs Are Making a Comeback

After a mixed week, there's good news again for the U.S. Bitcoin Spot ETFs. Last Monday, an impressive $235 million was invested in the eleven well-known BTC index funds, according to new data from Farside Investors' data.

The biggest winner was the Fidelity Wise Origin Bitcoin Fund, which pulled in a whopping $103.7 million. BlackRock also did well with the iShares Bitcoin Trust, which saw a tidy $97.8 million in net inflows.

Meanwhile, Bitcoin is trading at $62,450, a slight 0.86% drop over the last 24 hours. Compared with last week, the price is down 2.2%.

Other ETF providers, like Bitwise, ARK Invest, Invesco, and VanEck, also saw small net inflows. The Grayscale Bitcoin Trust remained steady with no major changes.

Last week the picture looked much gloomier. Over five trading days, $274 million flowed out of the U.S. Bitcoin Spot ETFs, with large outflows at Fidelity and ARK Invest. BlackRock, on the other hand, saw a net inflow of more than $135 million last week.

BlackRock's total Bitcoin holdings now stand at 368,989 BTC, worth $23 billion. In total, the U.S. Bitcoin ETFs hold 929,113 BTC, representing 4.7% of the current total BTC supply. Institutional adoption is just getting started.

A key factor suggesting a lasting positive trend for Bitcoin funds is the recent rate cut by the U.S. Federal Reserve. Lower yields on U.S. Treasuries can make riskier investments, such as Bitcoin and tech stocks, more attractive to investors.

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