$3.8 Billion Flows into Bitcoin ETFs as Institutional Demand Rebounds

Bitcoin exchange-traded funds (ETFs) have seen significant inflows over the past three weeks, totaling approximately $3.8 billion.

This is their best performance since the beginning of this year and marks a rebound in institutional demand, which had been dwindling since January.

In the last week alone, ETFs attracted an additional $986.9 million despite a price drop below $80,000 for Bitcoin.

BlackRock's IBIT ETF received nearly 67% of the daily inflows, totaling $174.6 million, while Fidelity's FBTC reported $57.2 million.

The dominance of these two large funds is evident in cumulative data, with IBIT having totaled over $64 billion in inflows since its launch and Fidelity nearing $10.3 billion.