Bitcoin ETFs Extend Rally as Two-Day Inflows Near $1 Billion
Bitcoin ETFs saw nearly $1 billion in inflows over two days as BTC surpassed $80,000, showing strong demand.Summary
Spot Bitcoin ETFs experienced nearly $1 billion in inflows in the two days leading up to Bitcoin reclaiming the $80,000 mark. On Tuesday, these ETFs attracted $467.4 million, following $532 million on Monday, bringing the total to over $999 million. This surge in demand follows April's $1.97 billion in net inflows and $1.63 billion since May 1, pushing cumulative inflows to $59.7 billion and assets under management to $109 billion. Despite Michael Saylor signaling potential Bitcoin sales for corporate needs, the ETFs have shown resilience, with only an 8% outflow during a 50% BTC drawdown, attributed by analyst Eric Balchunas to Wall Street wholesalers. Altcoin ETFs also saw gains, with Ether, XRP, Solana, and Dogecoin funds attracting inflows.
(Source：Cointelegraph)