Virtual Asset Funds, Jackpot for 6 Consecutive Weeks...BlackRock Leads Bitcoin ETF Inflows

▲ Exchange Traded Fund (ETF)

Virtual asset funds recorded net inflows for 6 consecutive weeks as the possibility of a Senate agreement on the U.S. cryptocurrency market structure bill became visible.

Crypto-specialized media NewsBTC reported on May 12 (local time) that Bitcoin (BTC) spot ETFs are on the verge of achieving a record 6 consecutive weeks of net inflows, having attracted approximately $1 billion in just two days. This inflow includes a daily inflow of $630 million, the largest since January, demonstrating strong buying momentum in the market. Notably, BlackRock's IBIT holds approximately 812,000 BTC, accounting for nearly half of the entire spot ETF market.

The market's explosive reaction stemmed from news of the Senate reaching a compromise on the stablecoin provisions of the U.S. cryptocurrency market structure bill (CLARITY). As the U.S. Senate Banking Committee began serious deliberations on the bill in cooperation with the Department of Justice, expectations of regulatory uncertainty being resolved drew institutional investors into the market. The provision of clear guidelines for stablecoins is being evaluated as a decisive opportunity for virtual assets to be incorporated into the mainstream financial system.

Buoyed by these positive developments, Bitcoin's price surpassed $82,000, entering a new price discovery phase. After falling to around $67,800 during the last quarter, Bitcoin surged by approximately 20% in just one month, significantly boosting investor sentiment. Market analysts are setting the next target price above $87,000, as Bitcoin has decisively broken through the short-term resistance level of $80,700.

Positive changes are also being observed in the altcoin market. The Ethereum (ETH) spot ETF stopped its net outflow of $2.8 billion over the past five months and shifted to net inflows starting in April. In early May alone, over $100 million flowed in, indicating a recovery of institutional confidence in Ethereum. Solana (SOL) and XRP funds are also maintaining robust growth, with assets under management reaching $817 million and $978 million, respectively.

The virtual asset market is undergoing structural growth beyond mere price increases, driven by a combination of regulatory adjustments and massive inflows of institutional capital. The final enactment of the U.S. cryptocurrency market structure bill is considered the most crucial variable determining the long-term direction of the market. Investors worldwide are closely watching the movements of U.S. politicians and the flow of capital into ETFs, observing the birth of a new financial order.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*