US spot bitcoin ETFs have seen significant growth in recent weeks, attracting a total of $996.4 million in net inflows last week. This marks the largest weekly total since January 16 and extends a streak of positive flows to three consecutive weeks.
In terms of specific ETFs, BlackRock's IBIT dominated the week with $906 million in net inflows, while Morgan Stanley's MSBT added $71 million during its first full trading week. The combined total for the past three weeks stands at over $1.8 billion.
Analysts point to US-Iran diplomacy as a key driver of this trend, citing institutional investors' anticipation of a permanent de-escalation in tensions between the two countries. COO Jeff Mei of BTSE noted that such positioning has led to an increase in long positions on bitcoin ETFs.