Bitcoin ETFs Add 7,869 BTC in Day, Bullish Signal?

Institutional Demand Drives Significant Inflows into U.S. Spot Bitcoin ETFs

According to on-chain analytics firm Glassnode, U.S.-based spot Bitcoin ETFs recorded one of the largest net positive inflows year-to-date last Friday, with 7,869 BTC flowing into these investment products. This marked the biggest daily inflow since April 29, signaling a sustained uptick in institutional demand for Bitcoin.

The Bitcoin ETF inflows reflect the broader trend in the crypto market. CoinShares data shows that digital asset investment products saw inflows of $3.3 billion last week, extending the six-week inflow streak to $10.5 billion. Bitcoin led the pack with $2.9 billion in inflows, accounting for a quarter of total inflows in 2024.

Despite a weekend sell-off that saw Bitcoin fall from around $111,000 to as low as $108,600, the cryptocurrency recovered slightly under $110,000 on Monday as broader risk markets experienced relief. The sell-off resulted in over $500 million in long liquidations across the crypto market, but the tone changed early Monday.

At the time of writing, Bitcoin was up 2.68% in the last 24 hours to $109,751 and up 7% weekly. If Bitcoin concludes the day in the green, it will be the third straight day of gains since May 24.

Bitcoin hit a new record high near $112,000 on May 22, driven by increasing institutional ownership of the digital asset and corporate adoption.