15 days of positive streak suggest end of BTC price correction

In an optimistic scenario, spot Bitcoin ETFs traded in the United States recorded their 15th consecutive day of net inflows last Monday, raising US$105.12 million. This positive streak is the second longest since the launch of these funds in January.

According to Bloomberg data, during the last 15 days, the 11 Bitcoin spot ETFs accumulated more than US$2.28 billion in inflows. The accumulated total since its debut reached US$13.96 billion.

The top contributors were the Fidelity Wise Origin Bitcoin Fund (FBTC) with $77 million, the Bitwise Bitcoin ETF (BITB) with $14 million, and the ARK 21Shares Bitcoin ETF (ARKB) with $11 million.

However, the two largest Bitcoin ETFs, managed by BlackRock and Grayscale, recorded no inflows on Monday. Meanwhile, the VanEck Bitcoin Trust (HODL) and WisdomTree Bitcoin Fund (BTCW) saw minimal inflows totaling less than $2 million.

ETFs de Bitcoin

This trend of consecutive entries could be favorable for the price of Bitcoin and possibly signal the end of the correction that the cryptocurrency has faced in recent weeks.

Bitcoin hit its last all-time high of $73,800 in March, driven in part by spot ETFs. These funds are collateralized by the underlying asset and attract corporate and institutional investors regulated by the United States Securities and Exchange Commission (SEC).

An example of the institutional interest in BTC that has been fueling the cryptocurrency’s rise is the Wisconsin State Pension Fund, which invested US$180 billion in one of the ETFs, specifically in IBIT and GBTC.

Although this amount represents only a small portion of the fund, it is a significant entry point, indicating growing interest in cryptocurrency as an investment alternative.

Marquette University finance professor David Krause notes that Bitcoin has volatility, but supply and demand are beginning to balance. Thus, he sees cryptocurrency as a viable investment alternative, adding diversification to portfolios.