US spot Bitcoin exchange-traded funds (ETFs) posted their strongest weekly inflow since February last week, drawing more than $786 million.
Data from SoSoValue showed that the US-listed funds’ performance last week narrowly trailed the roughly $787.31 million recorded during the last week of February.
BlackRock and Morgan Stanley’s New MSBT Fund Drive Interest
The inflows followed a softer stretch for the products amid broader market volatility and geopolitical tension, which weighed on risk appetite.
SoSoValue data shows that the flow pattern was uneven through the week. The funds opened with a sharp $471.32 million intake on Monday, then slipped into outflows midweek before recovering on Thursday and Friday.
US Bitcoin ETFs Weekly Performance. Source: SoSoValue.The turnaround left the group with its best weekly result in nearly two months and suggested buyers returned as Bitcoin regained momentum.
BlackRock’s iShares Bitcoin Trust remained the main driver of demand. The fund brought in about $612 million during the week, accounting for almost four-fifths of total net inflows across the category.
The concentration underscored how heavily new institutional allocations continue to favor the largest and most liquid product in the market.
Meanwhile, Morgan Stanley’s newly launched MSBT fund added another point of interest for the market. The fund raised roughly $46 million over its first three trading days, giving investors a fresh entry point as demand across the ETF group picked up again.
Its early flows were modest compared with BlackRock’s scale, but the launch carries broader significance because of Morgan Stanley’s distribution reach. The bank’s network of roughly 16,000 financial advisers oversees trillions of dollars in client assets, giving it access to a channel few Bitcoin ETF issuers can match.
The improvement in fund flows came alongside a strong week for the underlying asset. Bitcoin climbed from around $67,000 to above $70,000 during the period and was trading near $73,411 by the end of the week, a gain of about 9%.
The move marked one of the token’s strongest weekly advances in recent months and helped restore momentum after a period of weaker price action.
The post US Bitcoin ETFs Log Biggest Weekly Inflow Since February appeared first on BeInCrypto.
Source: https://beincrypto.com/us-bitcoin-etfs-strongest-weekly-inflow-since-february/
