Blackrock Leads Bitcoin ETF Inflows as BTC Price Surpasses $86K
- Bitcoin ETFs attracted $102.67 million in new capital, with Blackrock’s IBIT contributing $195.57 million.
- Grayscale’s Bitcoin Mini Trust and Morgan Stanley’s MSBT added $14.59 million and $7.04 million, respectively.
- Ether ETFs saw outflows totaling $55.37 million, marking the third consecutive day of losses.
- Bitwise’s NEAR ETF continued its strong debut with a third day of inflows, adding $8.08 million.
- Zcash faced significant outflows of $28.26 million, reducing net assets to $818.38 million.
The cryptocurrency market experienced varied institutional demand, with Bitcoin ETFs seeing a resurgence led by Blackrock’s substantial inflow, while ether and zcash funds faced continued redemptions.
Overall, the week flipped back to positive for Bitcoin ETFs due to strong institutional backing as prices rose above $86K despite selective demand across other crypto assets.(Source)
