Summary
TLDR: Demand for spot Bitcoin ETFs is high, with $2.45 billion invested in crypto funds last week. Total assets under management in crypto funds are at $67 billion, the highest since December 2021. BlackRock’s iShares Bitcoin Trust saw the largest inflows, with most money going towards Bitcoin exposure. The price of Bitcoin is currently at $51,800.
Key Points
1. Demand for Bitcoin exchange-traded funds (ETFs) is at an all-time high, with $2.45 billion invested in crypto funds last week alone.
2. Total assets under management of crypto funds now stand at $67 billion, the highest since December 2021, thanks to prominent funds like Grayscale, 21Shares, and ProShares.
3. Spot Bitcoin ETFs have been a huge success, attracting traditional investors looking for safe and regulated exposure to cryptocurrencies, with BlackRock’s iShares Bitcoin Trust receiving over $1.6 billion in inflows.