Bitcoin exchange-traded funds (ETFs) have strongly attracted institutional capital again, recording internal inflows exceeding $1.07 billion in just four days, amid market disruptions caused by escalating tensions in the Middle East.
According to data from the ‘Sentiment’ and ‘SoSoValue’ platforms, U.S. spot Bitcoin exchange-traded funds resumed receiving inflows after a brief period of collective outflows, indicating renewed institutional interest in the digital asset.
On Monday, inflows reached $386.27 million, followed by $431.12 million on Tuesday, the day the BlackRock IBIT fund recorded a milestone of reaching $70 billion in assets under management within 341 days.
Positive inflows continued on Wednesday and Thursday, amounting to $164.57 million and $86.31 million respectively.
These recent gains completely offset the outflows recorded on June 5 and 6, raising the cumulative net inflows to $45.31 billion, while assets under management reached $130.26 billion as of June 12.
This performance came amid sharp market volatility, as the confirmation of Israeli strikes on Iranian sites on June 13 led to a decline in the total market capitalization of cryptocurrencies by about $190 billion, with Bitcoin dropping from $108,369 to $103,081, before stabilizing later around $105,000.
Despite the decline, Bitcoin remained up by 1% on a weekly basis, outperforming the overall market, which saw a decrease of 0.6%.