Bitcoin ETFs Witness Record Inflows,Surpassing $2.7 Billion
Spot Bitcoin exchange-traded funds (ETFs) experienced a remarkable week, with investors pouring in $2.7 billion. This is the largest weekly increase since April, when inflows reached $3.06 billion.
For six straight weeks, these funds have seen positive inflows. The total inflows since their launch now stand at $44.53 billion. The combined assets under management have reached $131 billion, representing 6.24% of Bitcoin’s total value.
Among the top players, the iShares Bitcoin ETF (IBIT) leads with $71 billion in assets, followed by Fidelity’s FBTC and Grayscale’s offerings. Interestingly, IBIT, launched just 16 months ago, is on track to surpass the SPDR Gold Shares ETF (GLD), which has been around since 2004. GLD currently holds $100 billion in assets.
Bitcoin ETFs may soon outshine gold ETFs. The World Gold Council reports that global gold ETF assets have reached $345 billion. With Bitcoin’s strong performance this year, including a record high of nearly $112,000, the trend suggests Bitcoin ETFs could overtake gold etfs in the coming years.
Analysts are bullish on Bitcoin’s future. Ark Invest predicts BTC could reach $2.4 million by the end of the decade, while Standard Chartered sees it hitting $200,000 this year. The increasing demand from ETFs and corporations, coupled with decreasing supply on exchanges and rising mining difficulty, supports this optimistic outlook. Despite recent price fluctuations,the fundamentals remain strong,indicating further growth potential.
