On Monday, spot Bitcoin ETFs in the United States recorded $591.3 million in net inflows, marking the seventh consecutive day of positive flows, while Bitcoin continues to trade above $95,000.
BlackRock's Bitcoin ETF dominated inflow activity, attracting $970.9 million in new investments, while several competitors recorded outflows.
The Ark 21Shares ETF (BATS:ARKB) recorded $226.3 million in outflows, while Fidelity saw $86.9 million leave the fund.
Despite these contrasting results among individual funds, the ETF market as a whole has shown remarkable resilience in recent weeks.
Last week saw total inflows of $3 billion, the highest weekly figure since November 2024, bringing cumulative net inflows to $39.02 billion, the highest level since February 24.
The continued demand for ETFs comes as Bitcoin remains sideways at $95,130, after briefly exceeding $95,000 on Monday.
The total trading volume among the 12 ETFs reached $2.4 billion, down from $3.3 billion recorded on Friday.
Meanwhile, spot Ethereum ETFs have extended their positive streak to three days, with $64.1 million in net inflows.
Why it matters
The strong institutional demand for Bitcoin through ETFs coincides with significant developments at the state government level.
On Monday, the Arizona House of Representatives approved two bills that could lead to the creation of the first state Bitcoin reserve in the United States.
Senate Bill 1025, known as the Arizona Strategic Bitcoin Reserve Act, was passed with 31 votes in favor and 25 against, proposing to allocate up to 10% of state treasury and pension system funds into digital currencies, particularly Bitcoin.
A complementary bill, SB1373, aimed at establishing a state reserve of digital assets, was approved with broader support of 37 votes in favor and 19 against. Both measures are now awaiting signature from Arizona Governor Katie Hobbs.
Arizona's legislative push follows the creation of the federal Bitcoin reserve by President Donald Trump earlier this year. This reserve will be funded through cryptocurrencies recovered from criminal or civil asset seizures and zero-cost budgeting strategies.
If Governor Hobbs signs the law, Arizona will become the first state to formally establish a cryptocurrency reserve, setting a precedent for other states that may consider similar measures, in the context of increasing institutional adoption of digital assets.
