US-based spot Bitcoin exchange-traded funds are grabbing phenomenal attention from investors as they drew $388.3 million on Wednesday. This marks the eighth straight day of new money coming in, bringing the total inflow to a staggering $2.4 billion in Bitcoin ETF.
BlackRock’s iShares Bitcoin Trust (IBIT) is leading the investment wave with $278.9 million in inflows, followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC) with $104.4 million, according to Farside Investors. The Bitwise Bitcoin ETF (BITB) also added $11.3 million. However, some Bitcoin ETFs like those from ARK Invest and Valkyrie did not report any inflows
Bitcoin Price Stays Resilient Amid Geopolitical Tension
Despite a brief flutter caused by conflict between Israel and Iran, Bitcoin’s price stayed steady between $104,000 and $105,000. At the time of writing this report, Bitcoin is trading for $104,379 according to CoinMarketCap.
“Despite the initial panic, Bitcoin has remained in the $104K-$105K range, aided by consistent ETF inflows and a lack of follow-through in military actions,” crypto analytics platform Santiment said in a recent post on X. Santiment also highlighted that this behavior is similar to Bitcoin’s response to past conflicts, like when Russia invaded Ukraine in 2022 and the Israel & Palestine conflict in 2023.
However, Grayscale’s Bitcoin Trust ETF (GBTC) didn’t join the rest; instead, the investment firm has been taking funds from the market, with a $16.4 million outflow on Wednesday. Its low-fee Mini Trust also recorded $10.1 million in outflows.
Since April 17, spot Bitcoin ETFs have gained $11.2 billion in new money. In total, $46.3 billion has gone into 11 main US Bitcoin ETFs, led by BlackRock’s IBIT with $50.6 billion and Fidelity’s FBTC with $11.5 billion. Grayscale’s GBTC saw $23.2 billion flow out at the same time.
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