Bitcoin ETFs post $2.75B in weekly inflows as price sits above $108K
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US-based spot Bitcoin exchange-traded-funds (ETFs) have recorded a total of $2.75 billion in inflows this week amid Bitcoin surpassing its January all-time high of $109,000.The $2.75 billion inflow total was nearly 4.5 times larger than the spot Bitcoin (BTC) ETF’s previous week’s $608 million in inflows, according to Farside data.BlackRock Bitcoin ETF continues inflow streakOn May 23, the final day of the trading week, spot Bitcoin ETFs recorded $211.7 million in inflows. However, BlackRock’s IBIT was the only fund to post gains in the trading day, adding $430.8 million and extending its inflow streak to eight consecutive days. Grayscale’s GBTC led outflows with $89.2 million, followed by ARK 21Shares’ ARKB with $73.9 million.Just two days before, on May 21, the Bitcoin ETFs saw $607.1 million in inflows, the same day Bitcoin surpassed its $109,000 all-time high. The following day, Bitcoin recorded a new all-time high of $111,970.At the time of publication, Bitcoin is trading at $108,141, according to CoinMarketCap data. Bitcoin is trading at $108,490 at the time of publication. Source: CoinMarketCapBitcoin’s slight price decline over the past 24 hours came alongside a decline in crypto market sentiment, according to the Crypto Fear & Greed Index. The Index, which measures overall crypto market sentiment, reads a “Greed” score of 66, down 12 points from its “Extreme Score” of 78 the previous day.Related: Bitcoin price ‘breather’ expected as short-term traders realize $11.6B in profitCointelegraph recently reported that spot Bitcoin ETFs are on its way to potentially surpassing its monthly inflow record of $6.49 billion from November 2024. So far in May, spot Bitcoin ETFs have accumulated approximately $5.39 billion, with five trading days remaining in May.Meanwhile, several analysts recently suggested that Bitcoin is not showing any signs of overheating despite reaching new all-time highs this week, pointing to fundamentals suggesting that Bitcoin could rise further.CryptoQuant analyst Crypto Dan said on May 22, “Overheating indicators such as the funding rate and short-term capital inflow remain low compared to previous peaks, and profit-taking by short-term investors is limited.”Magazine: AI cures blindness, ‘good’ propaganda bots, OpenAI doomsday bunker: AI EyeWeiter zum vollständigen Artikel bei Cointelegraph
Quelle: Cointelegraph