$BTC #ETFs Pull $145M as Institutional Demand Steadies
U.S. spot
$BTC exchange-traded funds attracted $145 million in fresh capital Monday, extending a tentative recovery after Friday's $371 million inflow. The consecutive gains suggest institutional #demand may be stabilizing following weeks of sustained withdrawals.
The latest inflows have not erased recent losses. Bitcoin ETFs still face $318 million in net outflows from last week and $1.9 billion in year-to-date redemptions. However, the declining pace of withdrawals could signal a potential trend reversal for crypto investment products, according to CoinShares.
"Outflows slowed sharply to $187 million despite heavy price pressure," CoinShares head of research James Butterfill noted. He added that the deceleration in flows historically indicates a possible inflection point.
$BTC hovered around $70,000 during Monday's trading session.
Early #Bitcoin holders remain committed despite the ETF turbulence, according to Bitwise chief investment officer Matt Hougan. He told Bloomberg ETF analyst Eric Balchunas that original investors are taking partial profits rather than exiting positions entirely. "They invested a few thousand dollars and ended up with millions," Hougan said.
A core group of libertarian-minded Bitcoin supporters may feel uncomfortable with the growing influence of large asset managers like BlackRock, Hougan acknowledged. However, he described that faction as a "shrinking minority" within the broader investor base. Most early adopters stay invested while new institutional buyers enter the market.
Bernstein analysts characterized the recent downturn as the "weakest bear case" in Bitcoin's history. The research firm noted the absence of major #industry failures typically associated with deeper #cryptomarket stress.
$BTC fell 45% from its October peak of $126,000, briefly touching under $60,000 Friday before recovering.
