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Bitcoin spot ETFs recorded one of the highest weekly inflows as the price of Bitcoin (BTC) rallied last week. It appears that both retail and institutional investors have been getting more bullish on the digital asset. They are expecting more gains from the BTC price, resulting in intense trading activity across the markets.

From Sept. 23 to Sept. 27, the Bitcoin spot ETFs performed really well and defied all the odds. As per SosoValue, these products witnessed a net inflow of a whopping $1.11 billion last week. BlackRock’s IBIT was the best performing Bitcoin ETF during this time. It secured a weekly inflow of $499 million.

Ark and 21Shares’ ARKB was the second most traded investment product as it had an inflow of $269 million. Overall, the BlackRock ETF again leads the market, with a cumulative net inflow of $21.42 billion, while Fidelity’s FBTC follows with $9.99 billion and ARKB’s cumulative net inflow stands around $2.72 billion.

Bitcoin ETF success story

As of Sept. 27, the total net assets of the Bitcoin ETFs stand around a whopping $61.21 billion. It is almost 4.7% of the entire Bitcoin market cap. This is an astonishing achievement for these investment products. Bitcoin spot ETFs were only launched in January of this year, and they have achieved huge milestones in a relatively short period.

Ethereum spot ETFs were also launched recently, but they have not really performed well compared to Bitcoin-based investment products. While Ethereum products are still expected to grow over time, investor trust and confidence in Bitcoin is truly remarkable. Investors have been jumping on the ETF bandwagon, showing great interest in BTC.

Many still believe that this is only the beginning for these ETFs, and they will grow dramatically over the years. The success of Bitcoin spot ETFs will not only benefit the Bitcoin price, but it will also provide greater validation to the crypto market. The adoption of digital currencies is expected to get a major boost from it.