US-listed spot Bitcoin exchange-traded funds recorded their most significant weekly capital inflow since late February, signaling renewed institutional and retail interest in the cryptocurrency vehicle. The funds collectively drew more than $786 million last week, according to data from SoSoValue.
This recent surge narrowly trailed the roughly $787.31 million recorded during the final week of February, making it one of the strongest periods for the nascent financial products. The inflows were reportedly driven by activity from major financial institutions, including BlackRock and Morgan Stanley's newly launched MSBT fund.