Bitcoin ETFs Gain Momentum: $1.7 Billion Inflows

New ETFs contributed $1.7 billion to the US market’s total of $721 million, with spot Bitcoin ETFs raising $7.7 billion since approval.

New exchange-traded funds (ETFs) brought in $1.7 billion, contributing to the $721 million total for the US market. Based on data compiled by CoinShares, spot Bitcoin ETFs have raised $7.7 billion since their approval, with an average monthly capitalization of $1.9 billion.

With an average inflow of $1.9 billion over the past four weeks, Bitcoin ETFs have amassed a total of $7.7 billion since its introduction in the second week of January. Grayscale and ProShares are among the well-established funds that have had a $6 billion outflow, notwithstanding this spike. New evidence, however, shows that these outflows have slowed significantly.

With $703 million or 99% of the entire investment flow, Bitcoin was the clear winner on the inflow charts. On the other hand, a favorable change in Bitcoin’s price patterns coincided with a little withdrawal of $5.3 million from products that bet against it.

When compared to Ethereum and Avalanche the two cryptocurrencies, Solana’s $13 million in inflows were significantly more than their respective withdrawals of $6.4 million and $1.3 million.