US Bitcoin stocks started the week with strong inflows, extending last week’s recovery even as the conflict in the Middle East escalated.
Exchange-traded funds (ETFs) recorded inflows of $458.2 million on Monday, up from last week’s net inflow of $787.3 million, according to SoSoValue.
The latest earnings brought net inflows to $55.3 billion. Trading volume reached nearly $5.8 billion, the highest level since early February.
According to CoinGecko, the entry came after Bitcoin rose nearly 3% on Monday. Analysts pointed to strong buying by US investors, while some industry observers pointed to improved sentiment despite geopolitical risks related to the escalation of the Middle East conflict.
BlackRock leads inflows as altcoin funds add to gains
Altcoin ETFs shared the positive momentum, albeit on a smaller scale. Ether (ETH) funds attracted about $39 million, while Solana (SOL) and XRP (XRP) products recorded about $17 million and $7 million, respectively.
Among Bitcoin funds, BlackRock iShares Bitcoin Trust (IBIT) is the leader with $264 million in revenue, according to Farside.
Bitcoin Wise Origin Fund (FBTC) followed with about $95 million and Bitwise Bitcoin ETF (BITB) added about $36 million.
BTC remains stable as traders absorb US-Iranian tensions
Samson Mou, CEO of Jan3 and a long-time supporter of Bitcoin, took to X on Monday to note that Bitcoin was holding steady despite the growing uncertainty surrounding the US attack on Iran on Saturday.
“The pressure was down, but we bounced back up every time,” Mou said, adding: “It’s definitely different from previous months.”
A similar outlook was shared by analysts at CryptoQuant, who said that short-term holders of Bitcoin are “not getting hammered” amid the Iran outbreak.
“Selling pressure from recent buyers is easing. Panic is being replaced by patience or at least exhaustion,” say analysts.
related to: Crypto outflows from Iran surge 700% after US-Israeli airstrikes
Adding to the optimism, VanEck CEO Jan van Eck said in an interview with CNBC on Monday that Bitcoin is nearing a bottom. He said that BTC is set to rise gradually this year, noting that the four-year semi-annual cycle has been a major driver of prices over the past few months.
On Monday, it was reported that JPMorgan saw rising tensions in Iran as a buying opportunity, not a reason for the stock’s exit. Analyst Mislav Matejka said that “the current geopolitical turmoil should ultimately be an opportunity to add because the fundamentals are positive,” even as markets prepare for volatility.
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