🏦 Bitcoin ETF $BTC in the US just attracted $986.9 million in the week ending 5/9, with Thursday alone reaching $731 million — the highest level since 1/14.
BlackRock’s IBIT led with $117.4 million, followed by Fidelity’s FBTC with $57.2 million. The total assets under management of these funds now stand at $101.3 billion, holding about 6% of Bitcoin’s total supply.
Why is this notable?
Strong inflows into Bitcoin ETFs came while flows into Ether ETFs $ETH fell 74% and ETF $XRP fell 83% from the previous week, showing that Bitcoin remains the focus of institutional investors.
In simple terms:
Money is flowing very strongly into Bitcoin via ETFs, while Ether and XRP have been almost ignored this week.
#Bitcoin #CryptoNews
🔗 Source: Crypto Briefing
⚠️ This information is for reference only and is not investment advice. Please do your own research before making any decisions (DYOR).
BlackRock’s IBIT led with $117.4 million, followed by Fidelity’s FBTC with $57.2 million. The total assets under management of these funds now stand at $101.3 billion, holding about 6% of Bitcoin’s total supply.
Why is this notable?
Strong inflows into Bitcoin ETFs came while flows into Ether ETFs $ETH fell 74% and ETF $XRP fell 83% from the previous week, showing that Bitcoin remains the focus of institutional investors.
In simple terms:
Money is flowing very strongly into Bitcoin via ETFs, while Ether and XRP have been almost ignored this week.
#Bitcoin #CryptoNews
🔗 Source: Crypto Briefing
⚠️ This information is for reference only and is not investment advice. Please do your own research before making any decisions (DYOR).