What's up, my lovely people! 🔥 Bitcoin ETFs have broken records again with the influx of cash. This means that Wall Street has blind faith in the mother of cryptocurrencies, BTC!
Imagine that, even though there were no operations on Thursday due to the Juneteenth holiday, these funds directly connected to Bitcoin had cash inflows on the other four days. According to Trading Different data, over a billion dollars flowed into these financial vehicles! Crazy! 🤯
Of course, it wasn't all smooth sailing. On Tuesday, there was a small scare with outflows from Fidelity and Ark Invest funds, but nothing that BlackRock couldn't fix! BlackRock's IBIT attracted almost 640 million dollars, becoming the star of the week! In total, BlackRock's ETF raised over 1.2 billion dollars, surpassing all the others combined. This ETF is skyrocketing, folks! 🚀
And the most remarkable thing is that they have had nine consecutive days of dominant cash inflows! This is super important because the world is a bit shaken up with the war rumors in the Middle East, and despite that, the cash keeps flowing into Bitcoin.
This shows that the heavyweights of Wall Street are blindly trusting that Bitcoin is like a safe haven, a store of value just like gold, or even better for some! People are understanding that BTC can withstand the dirty laundry and tough situations.
In short, Bitcoin funds are consolidating as a long-term investment tool for the big players in the market. Since they launched in early 2024, these products have been a boom and are making history.
Some say that, in the long run, Bitcoin ETFs will be competing for the top spots in the market for digital asset financial products. For now, investors continue to show their confidence, even with the world turned upside down! So, let's stay alert and see what other surprises Bitcoin has in store for us! 😎$BTC
