US Bitcoin ETFs saw $654 million in net inflows over the last 3 trading days, with BlackRock and Fidelity’s funds leading the surge.
Investors have piled into Bitcoin ETFs over the last three trading days, but it wasn’t enough to offset Germany’s BTC selling spree.
Bitcoin investors have sent over $650 million into United States-listed spot Bitcoin exchange-traded funds over the last three trading days., known as the iShares Bitcoin Trust , pulled in $121 million in inflows, followed by Fidelity Wise Origin Bitcoin , which raked in $91 million.Some analysts hope the ETFs will help drive up the price of Bitcoin, as it did in the months leading up to March, when Bitcoin notched a new all-time high.
“The run-up from $16K to $73K was largely driven by the ETFs, following a buy-the-rumor buy-the-news phenomenon,” wrote Sina G, the co-founder and chief operating officer of Bitcoin custody consultancy firm 21st Capital, in an “Up to mid-March ETF flows were very strong and the market moved up. Since then, ETFs slowed down and bankruptcy outflows took over, causing a weak price action all the way down to $56K,” he wrote.from Germany’s Bundeskriminalamt , the country’s federal criminal police, which seized nearly 50,000 Bitcoin in mid-January amid a probe into a movie pirating website.
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