"Institutional Investors Drive Record Inflows to Bitcoin ETFs, BlackRock and Fidelity Lead the Way"

Bitcoin-focused investment vehicles saw over $700 million in net inflows last week, with new spot bitcoin ETFs like IBTC and FBTC from BlackRock and Fidelity leading the way. This offset the significant outflows from Grayscale's GBTC fund, which saw a notable drop in withdrawals. The report from CoinShares highlighted a reduction in the momentum of outflows from existing bitcoin funds, as new ETFs amassed $7.7 billion in funds, surpassing the $6 billion outflows from incumbents. Additionally, Solana (SOL) topped inflows to altcoin-focused funds, while Ethereum's ether (ETH) and Avalanche's native token (AVAX) experienced outflows.