On Friday, U.S. spot Bitcoin exchange-traded funds (ETFs) experienced a significant recovery, attracting $908 million in net inflows after a previous outflow of $242 million.
Notably, BlackRock’s iShares Bitcoin Trust (IBIT) rebounded with $253 million in inflows, reversing a three-day decline that had seen losses of $392 million. This brought IBIT’s total net inflows to $37 million, with holdings amounting to 548,506 Bitcoin valued at approximately $53.4 billion.
Fidelity’s Bitcoin Fund (FBTC) led the day’s performance with an impressive $357 million in net inflows, contributing to its total of over $12 billion since its launch.
Additionally, the ARKB fund from ARK Invest and 21Shares recorded $222 million in inflows, while other funds like Bitwise, Grayscale, and VanEck also saw gains. Bitcoin itself surged past the $98,000 mark, reaching $98,900, marking a 4% increase over the week.
Analysts are optimistic about Bitcoin’s future, anticipating increased institutional and national adoption. Galaxy Research predicts that by 2025, several Nasdaq 100 companies and nations will incorporate Bitcoin into their balance sheets.
Furthermore, VanEck’s CEO, Jan van Eck, suggests that Bitcoin could rise to between $150,000 and $170,000, advocating for investments in Bitcoin and gold as safeguards against inflation and economic uncertainty.
