Spot Bitcoin ETFs Attract $1.92 Billion in Best Week in 10 Months

Spot Bitcoin exchange-traded funds (ETFs) in the U.S. experienced their most significant week of net inflows in 10 months, attracting $1.92 billion as the price of the underlying cryptocurrency surged. The influx of capital marks the largest weekly total for the 13 U.S.-listed funds since early October of last year.

Inflows Follow Major Price Rally

The strong demand for Bitcoin ETFs coincided with a major price rally. Last week, Bitcoin's price climbed approximately 23%, its largest single-week gain in over three years. The cryptocurrency was trading around $77,000 during Asian trading hours on Monday, according to the source.

This recent performance marks a sharp reversal from the prior week, when the funds saw net outflows of nearly $390 million, the largest withdrawal in six weeks. The rally was reportedly initiated by U.S. plans to increase long-term bond buybacks and was later intensified by a short squeeze, which forced traders with bearish bets to close their positions.

Analyst Commentary

Ad

Market experts noted the renewed investor appetite but cautioned that the rally's momentum could face headwinds. "We saw net inflows every trading day last week, which indicates renewed investor interest in Bitcoin," said Gracie Lin, CEO of crypto exchange OKX SG. "The question now is whether this momentum can be sustained. It would not be surprising to see some profit-taking after such a strong run-up."

Other analysts pointed to the possibility of a near-term correction. "The market appears overextended in the short term but remains well-supported," stated Jayke Kyndrede, a senior sales trader at market maker QCP Group. "A period of consolidation or a pullback would not be surprising after such a rapid advance, but the timing and depth are difficult to predict while demand remains strong."

A Closer Look at ETF Flows

Among the various funds, BlackRock’s iShares Bitcoin Trust (IBIT) was a standout performer, attracting $1.3 billion in inflows last week alone. However, despite the recent powerful inflows, the broader year-to-date picture remains negative. According to the report, spot Bitcoin ETFs have still seen a cumulative net outflow of approximately $2.9 billion so far this year.