Spot Bitcoin ETFs are back in the spotlight after seeing strong inflows despite Bitcoin’s price facing significant pressure.
At the time of writing, Bitcoin is at $67,684, up 0.18% since its opening on Wednesday in the Asian session.
Over the past seven days, Bitcoin has fallen by nearly 13% and has recently fallen below $68,000.
The latest data shows that Spot Bitcoin ETFs in the United States received $166.6 million in inflows in a single trading session, bringing the total inflows for the week to $311.6 million.
This figure almost offsets the $318 million outflows recorded the previous week.
This situation marks a change in market sentiment after Bitcoin ETFs experienced three consecutive weeks of outflows exceeding $3 billion.
In fact, only a small percentage of ETF investors reportedly pulled out their funds as the price fell, indicating that long-term confidence in Bitcoin remains intact.
In a separate development, Goldman Sachs for the first time disclosed holdings in altcoin ETFs with investments of around $152 million in the XRP ETF and $104 million in the Solana ETF, signaling that large institutions are now diversifying their exposure to the crypto market.
Overall, despite the Bitcoin price being depressed, inflows into ETFs indicate that institutional interest remains strong and this decline may be seen as an opportunity, not a threat.
