Bitcoin ETF inflow streak nears October record, but still lags behind
According to data from analytics firm CoinShares, US Bitcoin ETFs attracted $1.2 billion in new inflows over the past week. This is a significant influx, but still far from the record $6 billion seen in October 2022 over a 9-day period.
The current 7-day inflow streak in Bitcoin ETFs is reminiscent of the record inflow series in October, when investors actively bought these instruments. However, the overall volume is still significantly behind.
Interestingly, against this backdrop, XRP ETF funds are also showing inflows and positive dynamics after a prolonged period of outflows.
Expert opinion
The current dynamics of inflows into Bitcoin ETFs reflects cautious optimism among investors regarding the first cryptocurrency. Likely, many are maintaining a wait-and-see attitude, unwilling to invest in crypto assets amid the general instability in the markets.
At the same time, the return of interest in XRP ETFs may indicate a diversification of investors' portfolios and a search for alternatives in the crypto sector. Nevertheless, the recovery of record inflow volumes into Bitcoin ETFs is still far away, and much will depend on the further dynamics of the cryptocurrency market.