U.S. Bitcoin exchange-traded funds (ETFs) saw consecutive net inflows for the first time in nearly a month, ending a streak of redemptions that began in mid-January.
The sequential inflows began on Friday with $471.1 million in new capital, compared with $144.9 million on Monday, according to SoSo Value data. Meanwhile, Bitcoin has rebounded from Thursday’s lows of $60,000 to around $70,000.
In mid-January, Bitcoin experienced a two-week rally starting at $87,000 before peaking near $98,000. The ensuing sell-off to $60,000 saw investors dump millions of cash ETFs.
Overall, investors appear to remain confident in the long-term prospects of cryptocurrencies, as evidenced by the resilient assets under management (AUM) of spot ETFs.
According to Checkonchain data, the cumulative AUM of these 11 funds has only decreased by about 7% since the beginning of October, falling from 1.37 million BTC to 1.29 million BTC. Meanwhile, Bitcoin has fallen more than 40% since hitting an all-time high of over 126,000 in October.
