Spot Bitcoin ETFs Surge with $1.7 Billion in Inflows This Week
- Spot Bitcoin exchange-traded funds (ETFs) recorded over $1.7 billion in inflows this week, marking their largest total in nearly two months.
- Wednesday alone saw nearly $800 million in inflows as Bitcoin (BTC) rose to $115,000, a gain of 4.5% from last Friday’s price of $110,000.
- Spot Ether ETFs also rebounded with over $230 million in net inflows after experiencing nearly $800 million in outflows last week.
- Corporate treasury holder BitMine purchased a total of over $200 million worth of Ether (ETH), bringing its holdings to over two million ETH valued at approximately $9.3 billion.
- The overall crypto market cap surpassed $4.1 trillion, a level not seen since July and August, according to Binance co-founder Changpeng Zhao.
The strong performance of Bitcoin and Ethereum ETFs reflects renewed investor confidence as institutional holdings continue to grow significantly across the asset class.
With spot Bitcoin ETFs achieving record inflows of over $1.7 billion this week and the crypto market cap reaching $4.1 trillion, the sector shows robust growth momentum.(Source)
