US Bitcoin ETFs Attract Nearly $1 Billion in Two Days, Pushing BTC to New Record High
Investors in the US poured nearly $1 billion into spot Bitcoin ETFs in the first two days of this week, helping push the price of the leading cryptocurrency to a new record high, reflecting the market's growing confidence in digital assets.
A total of $996.6 million was poured into Bitcoin ETFs on Monday and Tuesday alone, according to data from Farside Investors (UK). Although there are no official figures for Wednesday, the trend of money flowing into these ETFs remains strong, bringing the total cumulative net inflow of Bitcoin ETFs in the US to more than $42 billion.
“Bitcoin ETFs have been on fire in recent weeks,” said analyst James Seyffart from Bloomberg.
BlackRock Leads the Game
BlackRock’s iShares Bitcoin Trust (IBIT) continued to assert its leadership position, attracting nearly $600 million in new inflows in two days, far surpassing the other 10 funds combined in the Bitcoin ETF category. Following behind were Fidelity Wise Origin Bitcoin Trust (FBTC) and Ark 21Shares Bitcoin ETF (ARKB) with $211.4 million and $201.7 million, respectively.
BTC Price Hits New High
The surge in investment inflows also helped push Bitcoin past the $109,000 mark, recording $109,565 before slightly correcting to around $107,000, according to data from CoinGecko. BTC has gained more than 23% in the past month – a strong recovery after a deep decline in early April.
Coinbase recorded a peak price of $109,500 for BTC, up 4.5% in just 24 hours, bringing the monthly increase to nearly 25%.
Bitcoin ETFs – A Bridge Between Traditional Markets and Digital Assets
Since the US Securities and Exchange Commission (SEC) officially approved spot Bitcoin ETFs last year, these products have quickly attracted the attention of both individual and institutional investors thanks to their transparency and easy access, without requiring direct holding or security of Bitcoin.
Currently, a total of 11 Bitcoin ETFs are operating in the US, with $127 billion in assets under management (AUM) – a staggering figure that shows the rapid market acceptance of this new type of investment product.
As macro factors such as inflation, geopolitical instability and monetary policy continue to weigh on traditional markets, Bitcoin is emerging as a more attractive “alternative asset” than ever – and spot ETFs are a more efficient and safer way for investors to invest.