Editor's PiCK
Over $3 Billion Inflows in a Week... US Bitcoin ETF Hits 5-Month High
Summary
- Over $3 billion has flowed into the US Bitcoin spot ETF, marking the largest scale since November last year.
- This inflow is the second-largest on a weekly basis, reflecting expectations for the Bitcoin ETF.
- Jay Jacobs of BlackRock stated that interest in assets like gold and Bitcoin continues to grow amid increasing uncertainty.
This week, it was revealed that over $3 billion (approximately 4.3 trillion KRW) has flowed into the US Bitcoin (BTC) spot Exchange-Traded Fund (ETF).
The Block reported on the 26th (local time), citing on-chain analytics platform Sosovalue data, that "over $3 billion has flowed into the US Bitcoin ETF this week." The Block stated, "This is the largest scale since November last year," and "it is also the second instance where the weekly inflow exceeded $3 billion."
The strength of the Bitcoin ETF is due to expectations for future price prospects. Jay Jacobs, head of US Equity ETFs at BlackRock, recently said in a CNBC interview, "With the trend of increasing global uncertainty, commodities like gold and Bitcoin will continue to rise," adding, "People are looking for assets that will behave differently from existing asset classes."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul![[Today’s Key Economic & Crypto Calendar] Atlanta Fed GDPNow, More](https://media.bloomingbit.io/static/news/brief_en.webp?w=250)
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