BlackRock Propels Bitcoin ETF Inflows to New Heights as BTC Approaches $80K
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BlackRock Propels Bitcoin ETF Inflows to New Heights as BTC Approaches $80K

BlackRock's iShares Bitcoin Trust leads a recent surge in Bitcoin ETF inflows, contributing significantly to the total reaching $1.9 billion over the past week.

US-listed spot Bitcoin ETFs have recently experienced a remarkable inflow streak, totaling $1.9 billion over the last week, exceeding the inflows recorded during a similar period in March.

Spot Bitcoin (BTC) ETFs saw $335.8 million in inflows on Wednesday, marking the 7th consecutive day of increasing inflows, according to data from Farside.

During this recent streak, these funds have garnered approximately $1.9 billion in inflows, surpassing the previous record set in March of $1.2 billion.

As noted by Wallet Pilot, Bitcoin ETFs now manage a total of 1.3 million BTC in assets, valued around $103 billion. The inflow trend corresponds with a rise in BTC prices, which have surged 11% in the past month, briefly surpassing $79,000, the highest point since January.

BlackRock Dominates Inflows with $1.4 Billion

More than 73% of this week’s inflows, totaling $1.4 billion, came from BlackRock’s iShares Bitcoin Trust ETF (IBIT), which holds 809,870 BTC, representing 62% of all assets under management in US-listed spot Bitcoin ETFs.

The Morgan Stanley Bitcoin Trust (MSBT) contributed to the positive trend as well, with $95 million in inflows during the same period. Since its launch on April 8, the fund has yet to experience a day of outflows, amassing a total of $163 million.

Daily spot Bitcoin ETF inflows since April 14. Source: Farside.co.uk

However, some funds have recorded losses in the past week, notably the Grayscale Bitcoin Trust ETF (GBTC), which faced around $100 million in net outflows.

Ether (ETH), the second-largest cryptocurrency by market value, has also seen positive movement. Spot ETFs dedicated to ETH recorded a streak of inflows totaling $633.6 million over the last 10 days, marking significant recovery after a tough start to the year.

In recent updates, the Crypto Fear & Greed Index has climbed to 46, signaling rising optimism among investors, although Bitcoin is still underperforming with an 11% decline year-to-date.

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