The price of Bitcoin (BTC) is again being boosted by the digital currency’s exchange-traded funds (ETFs) in the United States. After suffering outflows throughout the week, these instruments recorded capital inflows for two consecutive days.
Furthermore, it should be noted that their demand etf increased significantly, On Monday they recorded inflows of US$15 million and on Tuesday they recorded US$418 million, the highest in two weeks. This is what browser data shows sosovalue Displayed below.
it Bitcoin purchases boosted by ETFs, putting pressure on the currency’s price, In short, in this scenario it is once again trading above US$70,000, having reached an all-time high of US$73,700 two weeks ago.
Of the Bitcoin ETFs in the United States, BlackRock (IBIT) and Fidelity (FBTC) are the ones that have accumulated the most inflows since their launch two months ago, but that’s not all. They have established themselves as the stock market asset that has accumulated the most holdings in its first 50 days According to quotes, data Collected By fund analyst Eric Balchunas.
In fact, the list of 20 stock assets that accumulated the most capital in their first 50 days also includes Ark Invest and 21 Shares (ARKB) and Bitwise (BITB) Bitcoin ETFs. As the following table shows, this has even outstripped the performance of gold ETFs launched two decades ago.
Experts say Bitcoin’s bullish trend will continue
Colombian analyst Juan Rodriguez said that, with this scenario, “this week will be quite bullish for Bitcoin.” They eventually accepted it as currency New price records will be set as capital inflows continue into ETFs,
Similarly, Grayscale, the largest Bitcoin ETF issuer, said inflows into these investment instruments are increasing They predict the upward trend will continue, He says they reflect growing interest in the currency among institutional investors, who are its main users.
The issuing company warned that only a select group has given the green light to add the ETF to high net worth portfolios managed by advisors. “This cautious but promising support signals substantial investment potential for new institutional demand,” he said.
