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Bitcoin ETF issuers continue to record capital inflows
On Monday, February 9, spot bitcoin funds attracted $145 million. This is already the second consecutive positive day. On Friday, February 6, inflows into BTC ETFs amounted to $371 million.
Capital inflows have not yet compensated for the $318 million outflow last week and $1.9 billion since the beginning of the year. However, according to CoinShares, the slowdown in the pace of losses may indicate a potential trend reversal in the crypto investment products sector.
Outflows sharply decreased to $187 million despite strong price pressure. Historically, a slowdown in inflows signals a potential turning point, said James Butterfill, Head of Research at CoinShares.
According to Bitwise CIO Matt Hougan, the growing institutional presence has not forced early investors to leave the market. This is despite the fact that during the latest crypto sell-off, which pushed BTC’s price down to October 2024 levels, there was a significant outflow from ETFs.
The overwhelming majority are still in the market, and new institutional investors are joining them. I think the story that most crypto pioneers are abandoning the space is not true. We are talking to investors who work with Bitwise, he said.
Following the recovery of bitcoin funds on Monday, spot altcoin ETFs based on Ethereum (+$57 million) and XRP (+$6.3 million) also rose.
See also: "Bitcoin price today: falls below $70K; key US data awaited"
