Bitcoin ETFs Saw $724 Million In Inflows Last Week, Snap Outflow Streak: Report

Bitcoin BTC/USD investment products attracted $724 million in fresh inflows last week, marking a sharp reversal after five consecutive weeks of outflows, according to CoinShares' report on Monday.

What Happened: The surge comes as the broader digital asset investment market recorded $644 million in inflows, snapping a prolonged trend of investor withdrawals that totaled $5.4 billion for Bitcoin alone over the previous five weeks.

CoinShares noted that inflows were recorded every single day last week, signaling what it called a "decisive shift in sentiment" towards cryptocurrencies.

"The recovery in inflows marks renewed optimism in crypto markets," wrote James Butterfill, head of research at CoinShares.

The U.S. dominated the rebound, contributing $632 million of the total inflows. Switzerland, Germany and Hong Kong also participated, registering inflows of $15.9 million, $13.9 million, and $1.2 million, respectively.

Also Read: Bitcoin Could Replace Tesla In ‘Magnificent 7’ To Boost Returns, Reduce Volatility: Standard Chartered

Why It Matters: While Bitcoin was the standout, alternative digital assets experienced mixed investor appetite.

Ethereum ETH/USD saw outflows of $86 million, the most significant withdrawal among altcoins, continuing a cautious trend among Ether investors.

Other networks such as Sui SUI/USD, Polkadot DOT/USD, Tron TRON/USD, and Algorand ALGO/USD also posted minor outflows.

Conversely, Solana SOL/USD bucked the trend among altcoins, gaining $6.4 million in fresh capital, while Polygon MATIC/USD and Chainlink LINK/USD followed with $0.4 million and $0.2 million in inflows, respectively.

Short-Bitcoin products, which benefit from declining BTC prices, also saw $7.1 million in outflows, adding to the signs of a market turnaround.

The latest data shows assets under management in crypto investment products have risen 6.3% since bottoming out on March 10, according to CoinShares.

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