Bitcoin spot ETFs brought in $2.45 billion in the last week: CoinShares
The latest report from CoinShares Research revealed that spot exchange-traded funds (ETFs) had inflows of $2.4 billion in the last week. Meanwhile, they only had exits of 167 million dollars. Record entries returned to December 2021 levels.
So far this year, inflows to Bitcoin spot ETFs amount to $5.2 billion, with the United States dominating 99% of inflows, with $2.4 billion. Bitcoin's recent rally has raised assets under management to $67 billion.
CoinShares: Bitcoin Spot ETFs Boost Crypto Market
CoinShares noted that interest in Bitcoin spot ETFs continues to rise, while outflows are declining, demonstrating confidence in Bitcoin's future following the cryptocurrency's recent rallies. Other countries that trust and enter capital into ETFs are: Germany, Switzerland and Sweden, with 13 and 1 million dollars, respectively.
The report indicated that Bitcoin accounts for 99% of capital inflows into cryptocurrencies, while Ethereum occupies second position with $21 million in inflows. Other cryptocurrencies with capital inflows were Avalanche, Chainlink and Polygon, with $1 million, $0.9 million and $0.9 million, respectively.
Read more: What is a Bitcoin (BTC) ETF? Know the different types
Days ago, JPMorgan revealed that BlackRock and Fidelity Investments' Bitcoin spot ETFs have moved to the top of liquidity metrics, surpassing the already established Grayscale Bitcoin Trust (GBTC).
