While the premier cryptocurrency still appears to be struggling in terms of price action, the demand conditions — especially in the US — seem to be improving steadily. According to the latest market data, the Bitcoin ETFs registered approximately $767.32 million in net inflows over the past week.
US Bitcoin ETFs Record $767M In The Past WeekOn Friday, March 13, the US-based Bitcoin exchange-traded funds recorded $180.33 million in total net inflows. This latest round of capital influx marked the fifth day in an inflow streak that started earlier in the week and the longest so far this year.
VanEck Bitcoin ETF (HODL), Bitwise Bitcoin ETF (BITB), and Ark 21Shares Bitcoin ETF (ARKB) (adding $8.05 million, $3.09 million, and $2.36 million in value, respectively) were the only other Bitcoin ETFs that recorded any activity on Friday. Interestingly, this Friday’s performance only pales in comparison to the $250.92 in the total net inflows seen on Tuesday, March 10.
As mentioned earlier, these daily performances brought the exchange-traded funds’ weekly record to a net total of around $767.32 million. This week’s performance marks the third consecutive week of positive inflows for the US-based Bitcoin ETFs.
As of this writing, the price of BTC stands at around $70,748, reflecting no significant movement in the past 24 hours. According to data from CoinGecko, the flagship cryptocurrency has jumped by nearly 5% in the past seven days.
