Bitcoin Surges as Spot ETFs Net $10B; ETH ETFs 9-Day Inflow
Bitcoin surged 8.5% this week to about $47,200 as institutional demand fueled record inflows into spot Bitcoin ETFs. BlackRock’s IBIT led with $297 million on Tuesday, lifting total inflows into Bitcoin ETFs past $10 billion since January. Ether ETFs extended their winning streak to nine days, drawing $62 million and pushing combined AUM above $5 billion. Open interest in BTC futures hit record highs, underscoring bullish momentum. Traders are shifting funds from equities into crypto amid market volatility. Ongoing ETF adoption and potential approvals of spot Bitcoin ETFs could sustain gains, though volatility spikes and regulatory shifts require close monitoring.
Bullish
The combined surge in Bitcoin’s price, record ETF inflows, and unprecedented open interest in Bitcoin futures signal strong short-term bullish momentum. Institutional demand, evidenced by more than $10 billion net into Bitcoin ETFs and over $5 billion into Ether ETFs, underscores growing confidence in regulated crypto products. This trend is likely to sustain gains as ETF adoption widens and potential spot-Bitcoin ETF approvals loom. However, traders should remain vigilant for volatility spikes and regulatory changes that could introduce intermittent risks, even in an overall positive market environment.