U.S. Spot Bitcoin ETFs attracted $2.75 billion in weekly inflows, more than 4 times the previous week. The inflow coincides with Bitcoin’s surge to a new all-time-high of $111, 970.
The inflow was spearheaded by BlackRock’s iShares Bitcoin Trust, which added $430 million. Furthermore, Garyscale’s GBTC recorded an inflow of $89 million, while ARK 21Shares’ ARKB added $73 million, completing the top 3.
Experts believe that institutional demand is a key driver for the inflows, indicating that the market is healthy. Bitcoin is currently trading at $109,000.
