Bitcoin ETFs experienced a whopping $2B BTC inflows, according to CoinShares.
Despite Bitcoin's volatility, Bitcoin ETFs had a record-breaking week, with the third-greatest daily inflow ever on June 3. The overall Bitcoin inflow into ETFs reached nearly $17B in 2024, with the United States leading the way.
The jump in Bitcoin ETF investments highlights a noteworthy week for crypto funds, with inflows totaling over $2 billion, a considerable increase from the previous $185M. Ethereum and Solana witnessed inflows of $69M and $700K, respectively.
This financial shift comes amidst expectations of rate cuts in the U.S. and Europe, sparking investor optimism for potential risk asset inflows. Meanwhile, short Bitcoin funds faced outflows for the third consecutive week. This trend signals a bullish sentiment among investors.
With Bitcoin's open interest hitting a new high of almost $38B and a favorable long-short ratio, the market buzzes with speculation of reaching new price highs.
