$1.1 Billion of Inflows Were Recorded on Spot Bitcoin ETFs Last Week: Report
The recent launch of Bitcoin exchange-traded products in January has resulted in them receiving the largest inflows among all cryptocurrency investment products, according to a report released by crypto asset manager CoinShares on Monday.
These Bitcoin ETFs attracted $1.1 billion in inflows last week, bringing the total amount to $2.8 billion since their launch on January 11. This marks the highest weekly inflow since the beginning of bitcoin spot ETFs, according to data from The Block.
Since their introduction, the new ETFs have gained custody of 192,000 BTC. Notably, BlackRock and Fidelity led the way with inflows of $693.6 million and $522.6 million, respectively, last week.
Bitcoin-related products received the majority of inflows, followed by Ethereum and Cardano. On the other hand, products allowing traders to short bitcoin only saw minor outflows of $0.4 million in the same week.
