Spot Bitcoin ETFs see $241M in net inflows for third straight week

Key Summary

US spot Bitcoin ETFs saw $241 million in net inflows for the third consecutive week, with BlackRock's iShares Bitcoin Trust (IBIT) accounting for $450 million of the gains. IBIT's cumulative total now stands at $65.73 billion, outperforming the entire category. In contrast, Fidelity's FBTC saw the largest outflows of the week, shedding $168 million. The concentration of inflows in IBIT suggests that the sector may not accurately reflect the broader market's appetite for Bitcoin, as the funds' holdings are large enough to influence the market's supply and demand balance.