Spot Bitcoin ETFs Record 10 Consecutive Days of Net Inflows

The United States spot Bitcoin exchange-traded funds (ETFs) have achieved a notable milestone, which recorded ten consecutive days of net inflows, marking their longest positive inflow since December last year.

An $89 Million Inflow

According to SoSoValue data, Thursday’s net inflows surpassed $89 million, marking a strong turnaround for crypto asset investment products. Fidelity’s FBTC led the inflows with $97.14 million, increasing its net asset. BlackRock’s IBIT came next, recording a modest gain of approximately $4 million. This streak in inflows showed institutional interest in Bitcoin ETFs.

However, some digital asset investment products experienced outflows. Invesco’s BTCO saw an outflow of roughly $7 million, while WisdomTree’s BTCW also reported a $5 million outflow. 

Despite the bitcoin (BTC) price struggles, US spot Bitcoin EFTs have seen decent inflows. Earlier last week, the investment products attracted approximately $274.5 million in inflows while recording roughly $5.5 billion in five weeks.

Notably, data showed a difference in investors’ sentiment towards Bitcoin and Ethereum. Over the month, spot Ether ETFs have recorded net outflows on all but two trading days.

As reported, crypto asset investment products also experienced a substantial shift in the last week, attracting over $644 million in inflows and ending a five-week streak of outflows. As such, total assets under management (AUM) rose by 6.3%, and the US led the inflows, contributing $632 million.

Germany, Switzerland, and Hong Kong also attracted inflows of $15 million, $13.9 million, and $1.2 million, respectively. Bitcoin recorded $724 million following five weeks of outflows, totaling $5.4 billion.

An Opportunity To Buy Big

The latest report comes as the largest crypto asset by market cap is starting to recover. The crypto asset has hovered around $80,000 to $82,000 in the past month. However, crypto enthusiasts like Robert Kiyosaki see this time as the best opportunity to acquire the asset. As of now, the digital asset is trading at over $84,900.

He further noted that fear of making mistakes (FOMM) is one of the major reasons people may not access bitcoin wealth. According to the businessman, individuals may miss the “greatest wealth creation.”

Institutions have capitalized on the asset’s price crash to increase their crypto holding. For instance, the Japanese investment firm Metaplanet recently acquired BTC, which is worth approximately $13 million.

The firm has shown no sign of stopping its BTC acquisition. It also purchased an additional 150 BTC, valued at $12.54 million. The company’s big buys show its commitment to the digital asset and cement its position as one of the big players in the industry.