For the first time in about five months, there have been positive inflows into US Bitcoin exchange-traded funds for the past two weeks.
This week, investors put almost $568 million into Bitcoin ETFs, according to market statistics. With over $787 million going into these funds, the week prior was even more robust. This indicates that investors are showing interest in Bitcoin-related financial products once more.
Bitcoin ETFs have seen significant withdrawals for a few weeks prior to this current recovery. Earlier this year, investors withdrew over $3.8 billion from these funds during a five-week period. Around $1.49 billion was taken out of the market at the end of January, making it the largest weekly withdrawal.
The daily data for this week revealed inconsistent activity. Investors contributed roughly $458 million on Monday, $225 million on Tuesday, and $461 million on Wednesday. But when the week came to an end, the pattern shifted. Outflows from the accounts totalled $227 million on Thursday and $348 million on Friday.
Ethereum ETFs improved as well. After receiving $80 million the week before, they reported inflows of $23.56 million this week. Since October of last year, this was their first consecutive weekly gain.
Many analysts think institutional investors are still optimistic about the long-term prospects of digital assets despite recent price volatility in Bitcoin.
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