Investors injected over $241 million into U.S. spot bitcoin exchange-traded funds last week. This marks the third consecutive week of net inflows for the sector, according to data from Farside Investors.
Despite daily inflows, the funds saw a single-day outflow of nearly $149 million on Wednesday. The iShares Bitcoin Trust managed by BlackRock attracted the largest share of capital, receiving over $450 million in new investments.
Trading activity also remained high for funds managed by Fidelity and Morgan Stanley. These financial vehicles allow investors to gain exposure to bitcoin through standard brokerage accounts.
The price of bitcoin recently reached $85,605, reflecting a 7% increase over the last 30 days. Analysts at CryptoQuant noted that the asset recently crossed its 365-day moving average.
