Bitcoin ETF Inflow Hits $1.27 Billion Last Week
Bitcoin continues to attract investor interest, with **Bitcoin ETFs** seeing a strong inflow of $1.27 billion last week. This comes as Bitcoin’s price climbed, reaching above $68,000 for the first time in over a month.
While Bitcoin’s price remains below its all-time high, the recent uptick suggests that investors are still bullish on the cryptocurrency.
- Investors pulled just $1.9 million out of funds betting against Bitcoin.
- Ethereum also saw a positive inflow of $45 million last week.
The inflows into Bitcoin and Ethereum ETFs reflect a growing interest in these digital assets, especially among institutional investors. This trend is likely to continue, particularly with the recent approval of spot Ethereum-based ETFs in Europe and the expected launch of similar products in the US.
The upcoming launch of US-based spot Ethereum ETFs is a major development for the cryptocurrency market. It will provide investors with a more accessible and regulated way to invest in Ethereum, potentially leading to increased adoption and price appreciation.
However, Bitcoin’s recent struggles to break higher are attributed to several factors:
- Concerns over the Federal Reserve’s continued interest rate hikes.
- Potential selling pressure from creditors expecting billions of dollars in Bitcoin repayments from collapsed exchange Mt. Gox.
Despite these challenges, the long-term outlook for Bitcoin remains positive. The growing adoption of cryptocurrencies, coupled with the increasing institutional interest, suggests that Bitcoin is likely to remain a significant asset in the years to come.
**Learn more about Bitcoin:** [https://bitcoin.org/](https://bitcoin.org/)
**Learn more about Ethereum:** [https://ethereum.org/](https://ethereum.org/)
