Bitcoin ETFs Pull in Over $1B as Price Surges Above $81,000
Bitcoin exchange-traded funds (ETFs) attracted nearly $1 billion in new money over two consecutive trading days, according to SoSoValue data. This influx of capital occurred as Bitcoin's price climbed back above $81,000.
Tuesday's session alone contributed $467.4 million in inflows, following $532 million recorded on Monday. Since May 1, the funds have attracted a total of $1.63 billion in net inflows, bringing cumulative inflows to over $59.7 billion.
Total assets under management now stand at approximately $109 billion, marking the highest level this year. Bloomberg ETF analyst Eric Balchunas attributed the resilience of crypto-ETF assets to distribution infrastructure, saying that Wall Street wholesalers have been effectively activated by the ETF product structure.