U.S. spot Bitcoin exchange-traded funds (ETFs) recorded significant net inflows of $381.4 million on Monday, the largest daily inflow since Jan. 30.
U.S. spot Bitcoin exchange-traded funds (ETFs) recorded significant net inflows of $381.4 million on Monday, the largest daily inflow since Jan. 30. This surge occurred while major U.S. stock indexes and the dollar faced declines.
Among the 12 ETFs, Ark and 21Shares' ARKB led with inflows of $116.1 million, followed by Fidelity's FBTC with $87.6 million. Bitwise's BITB reported inflows of $45.1 million, and BlackRock's IBIT, the largest spot Bitcoin ETF by net assets, logged $41.6 million in new investments.
Bitcoin held steady during this period, trading at approximately $88,176, reflecting a 0.76% increase in the past 24 hours. The crypto briefly surpassed the $88,000 mark multiple times amid a sell-off in traditional financial markets. Conversely, Ether experienced a 4% decline, trading at $1,581.
Total trading volume for the 12 spot Bitcoin ETFs reached $3.75 billion on Monday, a notable rise from $1.55 billion on Thursday. In contrast, spot Ether ETFs saw outflows of $25.4 million.
The U.S. dollar fell to a three-year low amid stalled global trade negotiations and renewed criticism from President Donald Trump directed at Federal Reserve Chair Jerome Powell, or "Mr. Too Late,” as Trump calls him. The president has advocated for "preemptive rate cuts," which some analysts suggest may further weaken confidence in the dollar.
Peter Chung, head of research at Presto Research, stated that the dollar's declining dominance appears to be structural, leading asset allocators to seek diversification through alternatives like Bitcoin.
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