🔥🔥🔥 Spot Bitcoin ETFs Break Record with $1.1 Billion in Weekly Inflows
Last week spot #Bitcoin exchange traded funds (ETFs) dominated the crypto investment products market with net inflows of $1.1 billion. BlackRock and Fidelity recorded the highest inflows of $693.6 million and $522.6 million, respectively. In total, these new funds have seen inflows exceeding $2.8 billion since their launch in January and they currently hold more than 192,000 Bitcoins.
This development shows that the crypto asset class is increasingly adopted by institutional investors, and the approval of spot Bitcoin ETFs is a significant milestone for the digital asset industry. These large institutional entries could increase Bitcoin's liquidity, reducing price volatility and helping cryptocurrencies gain wider acceptance.