Bitcoin ETFs Continue Positive Run, Pulling in $1.8 Billion Last Week
U.S.-based Bitcoin ETFs saw over $1.8 billion in inflows last week, with significant contributions of $423 million and $675 million on Thursday and Friday, respectively. Friday marked the seventh-highest inflow day of the year, with Bitcoin ETF inflows exceeding Ethereum's by more than 10:1. BlackRock’s iShares ETF led with $2.56 billion in net flows, while the Ark 21Shares Bitcoin ETF experienced a $458 million outflow. Gold ETFs faced $1.941 billion in outflows during the same period, highlighting a $3.7 billion gap favoring Bitcoin ETFs. Institutional and advisory firms are increasingly driving BTC ETF flows, contrasting with the initial retail dominance. Bitcoin is viewed as a safe haven asset amid rising U.S. treasury yields and has increased its market dominance, reaching a four-year high. Ethereum ETFs attracted only $149.2 million in net flows, indicating a disparity in investor interest compared to Bitcoin. Potential future approvals for XRP and Dogecoin ETFs may influence market dynamics.
