PiCK
U.S. Bitcoin ETF, cumulative inflows of $60.8 billion… trading volume nears $1.5 trillion
Summary
- It reported that cumulative net inflows into U.S. Bitcoin (BTC) spot ETFs exceeded $60.8 billion.
- Cumulative trading volume reached $1.45 trillion, and recently a net inflow of $524 million was reported.
- Experts say the inflows into Bitcoin ETFs are a positive signal, but over the long term they are cautious and intermittent demand.
Cumulative net inflows into U.S. Bitcoin (BTC) spot exchange-traded funds (ETFs) have exceeded $60.8 billion (about 89.2 trillion won).
On the 12th (local time), The Block reported that cumulative net inflows into spot Bitcoin ETFs were about $60.8 billion as of that day. This is the result two years after their launch in January last year. Cumulative trading volume was recorded at $1.45 trillion (about 2,130 trillion won) as of that day.
Spot Bitcoin ETFs saw a net inflow of $524 million on that day. It was the largest amount since early last month, just before a large-scale liquidation event.
Only BlackRock's IBIT saw a net inflow of $224.2 million, driving the inflow trend. Timothy Mishir, head of research at crypto analytics firm BRN Research, told The Block, "Recent inflows into Bitcoin ETFs are a positive sign," adding, "(but) looking at the long-term pattern, it is closer to cautious and intermittent demand rather than sustained buying."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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