Bitcoin ETFs recorded $2.5 billion in inflows this week
This week, the cryptocurrency market experienced one of the most significant rallies in its history. The reason for this is that the price of BTC reached the milestone of $100K per coin. In that context, Bitcoin spot exchange-traded funds (ETFs) saw positive flows of $2.5 billion.
This is a hugely positive development, as it demonstrates the enormous confidence of Wall Street wallets in the future of BTC. This enthusiasm for the token was also reflected in the altcoin market. In fact, the push for the vast majority of tokens led to the arrival of an altcoin season.
In any case, according to Trading Different data , there were positive flows into BTC products on all days of the week. The day with the highest inflow was Thursday, December 5, with a flow of $671.30 million. On that day, BlackRock's ETF, IBIT, received capital for $770.5 million, while Grayscale's GBTC had withdrawals of around $178 million.
Thus, while the bulk of Bitcoin spot ETFs accounted for $2,565.4 million, IBIT received $2,630.8. The fact that this product has more inflows than the combined sector is due to the fact that GBTC had constant outflows.
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Will the strong movement in Bitcoin ETFs continue?
In the next weekly session, the strong flow of institutional capital into BTC ETFs could continue at a similar pace. This is due to the high expectations in the market just a few weeks before Donald Trump's inauguration. The tycoon is now the main catalyst for traders when it comes to opening trades.
In this sense, it is expected that investors will remain optimistic in the coming days. To this must be added the psychological component of the last month of the year, in which the traditional Santa Claus rally takes place. Thus, from any point of view, everything looks positive for BTC in the coming days.
This is also the case for alternative digital currencies and even memecoins, which seem to be not going through the best of times. On the other hand, shares of other companies related to the cryptocurrency market on the stock exchange also showed a positive performance.
In the case of Bitcoin mining firms, MARA recorded a close on Friday of +6.62% despite the week overall being negative at -3%.
Meanwhile, the popular MicroStrategy closed the last 5 days of trading on the stock exchange with green numbers, with a +1.95%. The shares of this company are priced at $394 dollars per unit.
