BlackRock's IBIT leads as spot Bitcoin ETF market sees bullish momentum
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The cumulative total net inflow currently stands at $16.53 billion. This shows the rapid growth of Bitcoin ETFs since their launch in January. Additionally, the total net assets of these ETFs are worth around $58.46 billion. This constitutes almost 4.58% of the total BTC market cap, showing the growing dominance of spot ETFs on the market.Cardano Seeing Extreme Levels of Bearishesswitnessed a single-day inflow of $260 million, while Fidelity’s FBTC secured a single-day inflow of $61 million.
This weekly surge is parallel to the positive inflows seen in Bitcoin ETFs during the last eight days. This means that rising institutional investment has remained a for the Bitcoin price. Overall, market sentiment has become optimistic for BTC, and it may eye further gains in the coming days.With over three years of immersive experience in the crypto industry, Mushumir is a seasoned crypto writer dedicated to unraveling the complexities of blockchain technology and decentralized finance.
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