Bitcoin ETFs Surge with $996M Weekly Inflows — Strongest Since January

Spot Bitcoin exchange-traded funds (ETFs) saw nearly $1 billion in net inflows over the past week as market sentiment shifted toward riskier assets

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Quick overview

  • Spot Bitcoin ETFs experienced nearly $1 billion in net inflows over the past week, marking their best performance in over three months.
  • The total inflows reached $996 million, with the highest single-day performance of $663.9 million occurring on Friday.
  • Analysts suggest that market sentiment is shifting towards riskier assets due to decreasing demand for traditional safe havens like the US dollar.
  • Concerns about US debt demand and high long-term yields are eroding trust in conventional 'risk-free' assets, driving investment towards alternatives like Bitcoin.

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Spot Bitcoin exchange-traded funds (ETFs) saw nearly $1 billion in net inflows over the past week as market sentiment shifted toward riskier assets, their best performance in over three months.

Bitcoin drops after a bull trend the previous day.
Last week, net inflows into ETFs totaled $996 million, the highest amount since early January, when inflows totaled roughly $1.4 billion.

Inflows totaled $663.9 million on Friday, the best single-day performance of the week. Earlier gains were $411.5 million on Tuesday, $186 million on Wednesday, and a more modest $26 million on Thursday. Monday marked the start of the period with a $291 million outflow.

Bitunix analysts claim that markets are increasingly pricing in the evolution of geopolitical tensions rather than their persistence. They claimed that the demand for conventional safe havens like the US dollar has decreased because of signs of de-escalation of US-Iran relations.

The analysts added that there are still a few expectations for rate cuts and that the Federal Reserve is adopting a cautious stance. At the same time, trust in conventional “risk-free” assets is beginning to erode due to worries about US debt demand and high long-term yields. The dollar has been under more pressure as a result, encouraging investment in alternative assets like Bitcoin.

ABOUT THE AUTHOR See More
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks the financial markets with over 15 years of working experience in investment trading.

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