Bitcoin ETF Gains Institutional  Interest Amid Market Recovery

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As a seasoned crypto investor with a keen eye on market trends, I’m thrilled to see institutional investors jumping back into the Bitcoin ETF market. After weeks of outflows, it’s reassuring to witness such a significant surge in capital inflows, totaling $130 million during the week ending May 6. The Bitcoin investment funds alone received an impressive $144 million.

As a financial analyst, I’ve noticed an uptick in institutional investment in Bitcoin Exchange-Traded Funds (ETFs) following the cryptocurrency market’s recovery.

For over a month, digital asset investment products experienced net withdrawals totaling approximately $520 million. However, there was a notable reversal of this trend during the final week of April and the first week of May, with investments amounting to $130 million being made. Bitcoin-specific funds received an influx of $144 million during this period.

Although there was a notable increase in funds coming in, the number of transactions in investment instruments saw a decrease. The typical weekly trading volume amounted to $17 billion during April. Yet, this figure fell substantially to only $8 billion as of May 10.

In terms of regional contributions, the United States led with a total of $135 million, while Switzerland followed closely behind with $14 million in flows.

It’s worth noting that the Wisconsin Investment Board disclosed holding Bitcoin through direct ownership and investing in the iShares Bitcoin Trust and Grayscale Bitcoin Trust during the first quarter of the year.

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2024-05-15 03:48