Spot bitcoin ETFs see $1.4 billion inflows in best week since October

U.S. spot bitcoin exchange-traded funds (ETFs) experienced $1.42 billion in net inflows last week, marking their strongest weekly performance since early October. BlackRock's IBIT led the surge with $1.03 billion in inflows for the week ending January 16. This inflow suggests renewed institutional conviction in Bitcoin as a long-term asset, occurring as Bitcoin rose toward $97,000 before pulling back due to macro risk-off sentiment and headlines regarding U.S.-EU tensions over Greenland. Analysts noted that despite strong ETF inflows, Bitcoin's subsequent pullback to around $92,000 highlights that price action is currently dominated by leverage and liquidity dynamics in the derivatives market, making it vulnerable to abrupt downside moves. Spot Ethereum ETFs also saw significant inflows of $479 million last week, their best since the week ending October 10.

(Source：The Block)