Spot Bitcoin ETFs have seen a second consecutive day of record inflows, nearing their all-time high set on March 12 with $887 million in net inflows.
Fidelity’s FBTC led the rally with $379 million, followed by BlackRock’s IBIT with $274 million. ARK Invest and 21Shares raked in $139 million and $61 million, respectively, while Grayscale’s GBTC saw a rare $28 million inflow.
This marks the 16th consecutive day of net inflows for Bitcoin ETFs, fueled by the recent rebound in Bitcoin’s price above $71k.
Investors are also betting on Spot Ethereum ETFs, which could launch soon and attract between $3.1 billion and $4.8 billion in net inflows in the first few months of trading.
Meanwhile, VanEck CEO predicted that Bitcoin’s market cap could reach half that of gold within 5 to 10 years, fueled by growing interest from institutional investors.
Investment funds will play a key role, which over time could include more and more BTC in their clients’ portfolios, a trend that is already underway in the US and also in the rest of the world.
Furthermore, Bitcoin’s role outside the purview of the Society for Worldwide Interbank Financial Telecommunication (SWIFT) is not a given, as, according to Melker, investors outside the US would like to be increasingly freed from the constraints imposed by SWIFT and the US financial system (with the resulting political control).
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