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Bitcoin ETFs Record $196 Million Inflows for Second Week in a Row
The market has witnessed another remarkable week as Bitcoin Exchange-Traded Funds (ETF) have reported significant inflows of $196 million, marking the second consecutive week with such an influx. This surge is quite intriguing given the recent downturn in the cryptocurrency market.
According to reports, BlackRock’s IBIT and Fidelity’s FBTC led the charge in this surge, as these institutions continue to demonstrate their confidence in Bitcoin’s long-term viability. It’s worth noting that this inflow comes despite a strong outflow on Friday.
Meanwhile, Ethereum-based ETFs have experienced their fifth consecutive week of outflows, shedding a staggering $8.64 million. This sudden decline may signal a shift in investor sentiment or perhaps a correction in the market.
As Bitcoin ETFs continue to attract large sums of capital, it’s essential to consider the potential implications for the overall cryptocurrency market and individual investors alike.
Source: https://thebitcoinnews.com/bitcoin-etfs-record-196-million-inflows-for-the-second-week-in-a-row/
