U.S. Bitcoin ETFs See Record Inflows as Prices Rally
- U.S. spot Bitcoin ETFs recorded inflows of $998.95 million on Monday, marking the largest single-day intake since October.
- BlackRock’s IBIT fund received $381.37 million, while Ark & 21Shares and Fidelity collectively added $527.96 million.
- Bitcoin surged past an estimated ETF cost basis of $81,722, putting average fund holders back in profit for the first time since January.
- The total turnover for these funds was about $4.5 billion, slightly below Friday’s trading volume of $4.6 billion.
- Cumulative net inflows since launch now stand at $56.16 billion with funds holding assets worth $110.14 billion, representing approximately 6.30% of Bitcoin’s market capitalization.
This significant inflow into U.S.-based Bitcoin ETFs highlights a renewed institutional interest and reflects a stark reversal from the previous week’s smallest recorded weekly inflow of just $6.2 million.
The surge in ETF inflows coincides with Bitcoin’s price rally to around $85,900, surpassing its cost basis and indicating improved investor sentiment despite recent regulatory challenges and monetary policy shifts.Source
