Crypto: Bitcoin Etfs Regain Momentum With $507m Inflows As BTC Reclaims $68k

Fresh inflows lift US Bitcoin ETFs toward a potential first weekly gain after five consecutive weeks of outflows totaling $3.8 billion.

US spot Bitcoin funds extended their rebound Wednesday as BTC reclaimed $68,000, pulling in $506.5 million in inflows, the largest daily total since Feb. 2.

Bitcoin (BTC) exchange-traded funds (ETFs) are nearing a potential first week of inflows after five weeks of net outflows totaling $3.8 billion, with weekly inflows now at $560.4 million, according to SoSoValue data.

The gains mark two consecutive days of inflows, hinting at a possible upside following a massive February sell-off that wiped out $20 billion in net assets.

BlackRock’s iShares Bitcoin Trust ETF (IBIT) saw the largest share of inflows yesterday, attracting $297.4 million, according to Farside data.

The Bitwise Bitcoin ETF (BITB) and the Fidelity Wise Origin Bitcoin Fund (FBTC) followed with $39.4 million and $30.1 million in inflows, respectively.

Reflecting the recovering interest, ETF trading volumes rebounded above $4.3 billion, the highest level since Feb. 9.

The renewed buying comes as some investors continue to debate how market structure affects Bitcoin price discovery, including the role of big market-making firms like Jane Street and authorized participants (APs) that help create and redeem ETF shares.

In rumors circulating on X following a recent lawsuit filed by Terraform Labs administrator Todd Snyder, Jane Street has been accused of influencing prices through derivatives exposure to BTC and market manipulation.

“The answer is trickier than the question,” Bitwise adviser Jeff Park noted in an X post on Wednesday, adding: “But it’s also more structurally unsettling than the conspiracy theory itself — and once you understand the actual mechanics, you won’t be able to unsee them,” he added.

Source: CoinTelegraph