Experts cited an increase in the influx of funds into spot ETFs and news about the accession of a number of large banks to BlackRock's exchange-traded fund. Citadel Bank, Goldman Sachs, UBS and Citi will serve as broker-dealers authorized to create and redeem ETF units. This comes despite Goldman Sachs, one of the world's largest investment banks, slamming Bitcoin and the entire cryptocurrency industry last week.
Inflows into spot exchange-traded funds totaled just over $400 million on April 4-5, according to SoSoValue. As of April 8, the funds had accumulated 840 thousand bitcoins worth $56 billion on their balance sheets, which is about 4% of the total number of BTC in circulation.
According to CoinShares, $646 million was the influx of funds into cryptocurrency funds last week. CoinShares tracks the balances of both spot and futures ETFs operating in the US, Switzerland, Germany and other countries. Year-to-date fund inflows—$13.8 billion—are at their highest level ever. The vast majority of investments were made in Bitcoin and the American market, but investors are also interested in products based on Ethereum, Litecoin, Solana and Filecoin.
