Bitcoin ETFs Attract $667.4 Million In Weekly Inflows As Bullish Momentum Builds Toward New All-Time Highs
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Bitcoin investment products continue to attract significant capital as the leading cryptocurrency approaches record territory once again. On May 19, U.S. spot Bitcoin ETFs recorded a substantial $667.40 million in net inflows, marking the fourth consecutive day of positive flows into these investment vehicles.
The day's inflow distribution across the major Bitcoin ETFs reveals interesting investor preferences:
iShares Bitcoin Trust (IBIT): Led the pack with +$305.90 million in inflows
Fidelity Wise Origin Bitcoin Fund (FBTC): Secured +$188.10 million
ARK 21Shares Bitcoin ETF (ARKB): Attracted +$155.30 million
Bitwise Bitcoin ETF (BITB): Added +$16.00 million
Invesco Galaxy Bitcoin ETF (BTCO): Experienced -$5.30 million in outflows
VanEck Bitcoin Trust (HODL): Gained +$7.40 million
Several ETFs including Grayscale Bitcoin Trust (GBTC), Franklin Bitcoin ETF (EZBC), Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTEW), and BlackRock Bitcoin and Ether Equal Weight Strategy ETF (BTCE) showed no significant flows for the period.
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The Ethereum ETF market, while showing more modest activity, also demonstrated positive sentiment with a total net inflow of $13.66 million on the same day. Notably, none of the nine available Ethereum ETFs experienced outflows during this period, suggesting stable investor confidence in the second-largest cryptocurrency.
Bitcoin is currently trading at $105,935, showing continued strength as it moves toward its all-time high of $110,000. The asset has maintained its upward trajectory despite broader market fluctuations, reinforcing investor confidence in its long-term prospects.
Bitcoin's dominance in the overall cryptocurrency market (BTC.D) has increased to 63%, representing a 3% rise over the past six days. This growing dominance comes as the alternative cryptocurrency market has declined by 6.2% during the same period, with the total altcoin market capitalization standing at $1.2 trillion.
Trending: New to crypto? on Coinbase.
The persistent inflows into Bitcoin ETFs highlight several important trends:
Institutional comfort: The regulated ETF structure continues to attract traditional investors seeking exposure to digital assets without direct custody concerns.
Market rotation: Bitcoin's increasing dominance suggests investors may be rotating capital from riskier altcoins to the relative safety of BTC in the current market environment.
Momentum building: With Bitcoin approaching its all-time high, these strong inflows could provide the additional liquidity needed to push the asset to new record levels.
Brand preference: The clear preference for certain ETF providers – notably BlackRock's IBIT and Fidelity's FBTC – demonstrates the importance of brand recognition and trust in the institutional Bitcoin investment landscape.
As Bitcoin approaches its all-time high of $110,000, market participants will be watching closely for signs of resistance or a breakthrough to new record territory. The continued strong inflows into spot Bitcoin ETFs suggest underlying demand remains robust, potentially providing sufficient buying pressure to test new price levels.
However, investors should remain mindful that cryptocurrency markets can experience significant volatility, and past performance does not guarantee future results. The rotation from altcoins to Bitcoin may indicate a more cautious market sentiment that could influence broader cryptocurrency market dynamics in the coming weeks.
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This article Bitcoin ETFs Attract $667.4 Million In Weekly Inflows As Bullish Momentum Builds Toward New All-Time Highs originally appeared on Benzinga.com
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