Bitcoin ETFs Register Record Weekly Inflows, Signal Bullish Shift.

Bitcoin exchange-traded funds (ETFs) have recorded substantial inflows, signalling a potential bullish shift in the cryptocurrency market. According to recent data, the ETFs saw a rise in investments, with a continuous inflow streak throughout the past week. This trend, totalling $506 million with no outflow day, underscores growing investor confidence in the crypto.

Bitcoin ETFs Register Record Weekly Inflows.

Bitcoin ETFs have seen a remarkable increase in net inflows over the past week. Data from Spot On Chain reveals that these ETFs experienced daily inflows of $506 million. The week began with inflows of $62.1 million on Monday, driven by major players like BlackRock and Fidelity. Additional inflows were recorded throughout the week, with BlackRock leading the market with significant contributions.

On August 24, the spot ETFs saw a

single-day inflow totalling $252

million. Eight different ETFs supported

this surge, all of which reported positive flows with the major 5 ETFs

recording over $20M inflows.

In addition, Hong Kong's spot ETFs experienced their highest inflow in over a month, with the ChinaAMC Bitcoin ETF receiving 274 BTC worth approximately $15 million on August 22. This surge underscores growing interest among Asian institutional investors.

Investor Confidence Grows Amid ETF Inflows.

The continuous inflows into Bitcoin ETFs indicate increasing investor confidence in the cryptocurrency. iShares ETF, a key player in this market, reported a substantial inflow of nearly $76.8 million. This increase in holdings has pushed iShares' total reserves to approximately 352,843 BTC, equivalent to $21.65 billion.