Bitcoin investment products have attracted $310 million in inflows in 14 days amid skepticism over the U.S. Securities and Exchange Commission’s (SEC) approval of a spot BTC ETF, according to a new report from CoinShares.
Bitcoin is in the lead as it recovers from its previous nine-week streak of outflows, the report said. Despite inflows of $123 million this week, short BTC investment products recorded an outflow of $900,000, making it the tenth consecutive week of negative growth.
Analysts at brokerage Bernstein said the SEC would rather introduce a regulated bitcoin ETF dominated by more mainstream Wall Street players and overseen by existing regulated exchanges than deal with grayscale off-exchange trading that fills an institutional void product.