Spot Bitcoin ETFs Go ‘Pac-Man’ Mode, Gobble Up $1.2 Billion In 1 Week
US-listed Bitcoin exchange-traded funds (ETFs) experienced significant inflows, with nearly $1 billion added on Tuesday alone, totaling $1.2 billion for the week and bringing total assets under management (AUM) to $103 billion. Bitcoin's price rose above $93,000, reaching $93,700. BlackRock’s iShares Bitcoin Trust (IBIT) led with year-to-date inflows of $2.7 billion, while Ark Invest’s ARKB and Grayscale’s funds lagged with $410.41 million and $385.31 million, respectively. Grayscale’s GBTC faced $1.18 billion in outflows since January. Ten of 11 spot Bitcoin ETFs saw inflows, indicating broad institutional participation. Bitcoin spot ETFs traded $496 million, with net assets at nearly $57 billion. Ethereum products faced continued outflows of $26.7 million last week, totaling $772 million over eight weeks. Short Bitcoin products also saw outflows of $1.2 million, consistent with Bitcoin's price strength. XRP investment products attracted over $37 million last week, contrasting with other altcoins facing selling pressure. The influx of capital signals growing acceptance of cryptocurrency by traditional financial institutions.
