Coinspeaker
Crypto Inflows Slips to $646M as Bitcoin ETF Hype Takes Breather

The crypto market saw its inflows drop to $646 million last week as enthusiasm for Bitcoin Exchange-Traded Funds (ETFs) may be declining.

As revealed in a blog post by CoinShares, last week’s crypto inflows amounted to $646 million. This figure contributes to a year-to-date inflow of $13.8 billion, exceeding 2021’s total of $10.6 billion. Despite this bullish signal, CoinShares researcher, James Buterfill outlined a contrasting view from ETFs.

Butterfill noted that the last week’s inflows had fallen short of levels seen in early March. This decline, according to the researcher, hints at reduced appetite from ETF investors. Per the data from CoinShares, BlackRock’s iShares led the charge with inflows of $881 million, while ETFs from Fidelity Investments recorded $395 million in inflows. On the other hand, Grayscale Bitcoin Trust (GBTC) and Ark Invest and 21Shares’ (BITB) recorded outflows of $731 million and $76 million respectively.

The dwindling interest in spot Bitcoin ETF may have been caused by a