Although the Bitcoin (BTC) price has been under pressure in recent weeks, spot exchange-traded funds (ETFs) continue to send strong signals. For the second consecutive week, these exchange-traded funds recorded significant capital inflows – a sign that institutional investors’ confidence remains unbroken.
$196 Million Inflow in One Week
Last week, a total of $196.48 million was invested in US Bitcoin ETFs. This despite the week ending on a negative note: On Friday, March 28, $93.16 million flowed out of the funds. Nevertheless, the weekly result remained clearly positive on balance.
The strongest daily inflow was recorded on Wednesday, March 26 – $89.57 million flowed into the funds on that day alone. For many, this is a clear sign of continued confidence from institutional investors.
BlackRock and Fidelity lead the field
The inflows were primarily driven by heavyweights such as BlackRock and Fidelity. BlackRock’s flagship fund, IBIT, attracted an impressive $171.95 million in fresh capital. Fidelity’s FBTC fund also impressed with an inflow of $86.84 million.
Not all funds benefited from the positive market environment, however. ARK 21Shares, with its ARKB fund, recorded the largest outflow of the week: $40.97 million. Funds from WisdomTree, Bitwise, and Invesco also suffered declines and ended the week in the red.
BlackRock brings Bitcoin to Europe
Following its success in the US, BlackRock is now turning its attention to Europe. With the launch of its own Bitcoin exchange-traded product (ETP), the asset manager is officially entering the European market.
Since March 25, the fund has been tradable on Xetra, Germany’s leading electronic stock exchange, as well as on the Euronext exchanges in Amsterdam and Paris. This gives BlackRock the opportunity to invest in Bitcoin via established trading platforms – without directly owning any cryptocurrencies.
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