Bitcoin ETF Inflows Soar Despite BTC Price Drop
Bitcoin ETFs have seen significant inflows despite the price of BTC falling. According to recent data, there were $233.1 million in net new money entering US Bitcoin ETF funds on Thursday, marking the best daily flows in over three weeks.
The BlackRock iShares Bitcoin Trust (IBIT) saw the largest amount of investments coming its way, with $183.4 million in net inflows accounting for almost 78.7% of the total.
BITB from Bitwise and FBTC from Fidelity also showed notable inflows, totaling $20.7 million and $15.5 million respectively.
This marks a positive week for Bitcoin ETFs, with inflows totaling $203.84 million so far. If there are no outflows greater than this number in the last day, it will mark the fourth consecutive week of positive flows.