Spot Bitcoin ETF Sees Over $1.1 Billion in Net Inflows Over Three Days, Analyst Says "Safe Haven Asset" Narrative Is Back
BlockBeats News, March 5th: The inflow of spot Bitcoin ETF funds has seen a significant rebound. Data shows that over the three trading days from March 2nd to March 4th, a total of about $1.1 billion in net inflows was recorded for spot Bitcoin ETFs, with a daily net inflow of about $462 million on March 4th, led by the BlackRock's iShares Bitcoin Trust (IBIT) with around $307 million.
The fund inflow has also driven the Bitcoin price upwards, with the price briefly touching $74,000. Currently, it is holding above $73,000, with a weekly increase of about 6%.
Analysts point out that amid the geopolitical tensions in the Strait of Hormuz and escalating macro uncertainty, institutional funds may once again view Bitcoin as an asset for hedging geopolitical risks. Some market observers believe that if ETFs continue to see net inflows, the market narrative of Bitcoin as a "safe haven asset" may be further strengthened.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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