Bitcoin exchange-traded funds (ETFs) have demonstrated another successful week, with net inflows of $2.2 billion. According to Bloomberg analyst Eric Balchunas, this volume exceeds the inflow of funds into any other of the 3,400 ETFs available in the United States.

Most of this capital was received by the BlackRock IBIT fund, which raised $1.6 billion over the past week, according to BitMEX Research. According to Balchunas, since the beginning of the year alone, IBIT has received $5.2 billion, which is half of the total inflow of funds into BlackRock exchange-traded funds, and there are only 417 ETFs.

The Fidelity FBTC fund has also registered significant inflows of $648.5 million over the past five trading sessions. During the same period, Ark 21Shares' ARKB fund raised $405 million, and Bitwise's BITB fund raised $232.1 million.

However, the rosy picture is slightly spoiled by the outflow from GBTC of Grayscale, which amounted to $ 624 million in a week. This is due to the sale of fund shares by investors who switch to other ETFs with lower fees. Since converting from an over-the-counter product to an ETF on January 10, the Grayscale fund has lost more than $7 billion.

Spot Bitcoin ETFs are an important factor contributing to the rise in the price of bitcoin. The cryptocurrency has grown by 100% over the past four months, helped by market sentiment after the funds were approved by the U.S. Securities and Exchange Commission (SEC) last month.

Major banks and financial institutions are also showing interest in new ETFs. On February 14, a coalition of trade groups representing the largest Wall Street firms asked the SEC to reconsider its attitude towards cryptocurrency assets, which would allow them to provide custodial services for recently approved bitcoin spot funds.