Bitcoin exchange-traded funds (ETFs) saw strong inflows this week of about $1.5 billion, indicating a rise in institutional investor activity.
According to data from Farside Investors, these inflows were recorded within just three days, with no outflows since June 6.
The iShares Bitcoin Trust (IBIT) fund from BlackRock topped the list, purchasing more than 9,400 Bitcoins this week, with total inflows exceeding $52 billion since its launch.
It was followed by the Fidelity fund with total inflows of $11.7 billion, while the other nine funds had less impact.
In parallel developments, Invesco and Galaxy have filed to launch an exchange-traded fund for Solana, bringing the total number of similar applications to nine.
Canary Capital has also submitted a request for the PENGU ETF, covering digital tokens and Pudgy Penguins NFT.
For his part, Michael Saylor described the listing of Bitcoin as a reserve asset within the U.S. financial system as a pivotal moment in the path to institutional adoption.
The price of Bitcoin positively influenced this week, rising by about 10%, surpassing the $108,000 mark twice in the past 24 hours, before retreating to $107,800 Thursday morning.
This has led to an increase in Bitcoin's market dominance to 65.7%, the highest percentage in four years, while Ethereum and alternative cryptocurrencies remained relatively stagnant.
Analysts believe that regaining dominance levels between 64% and 71% often takes between one to two months, although the current cycle has shown longer recovery periods, raising discrepancies in expectations about the pace of continued increases.
