Spot Bitcoin ETFs see $458M in inflows as Mideast conflict widens

US spot Bitcoin funds opened the week with strong inflows, extending last week’s rebound even as conflict in the Middle East escalated.

Bitcoin exchange-traded funds (ETFs) recorded $458.2 million of inflows on Monday, extending last week’s $787.3 million in net inflows, according to data from SoSoValue.

The latest gains pushed cumulative net inflows to $55.3 billion. Trading volume climbed to about $5.8 billion, the highest level since early February.

The inflows came as Bitcoin rose about 3% on Monday, according to CoinGecko data. Analysts cited strong spot buying from US investors, while some industry observers pointed to improving sentiment in spite of the geopolitical risks of the expanding Middle East conflict.

BlackRock leads inflows as altcoin funds add to gains

Altcoin ETFs shared positive momentum, though on a smaller scale. Ether funds drew about $39 million, while Solana and XRP products recorded $17 million and $7 million in inflows, respectively.

Among Bitcoin funds, BlackRock’s iShares Bitcoin Trust (IBIT) led with $264 million in inflows, according to Farside data.

Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with about $95 million, and Bitwise’s Bitcoin ETF (BITB) added $36 million.

BTC holds steady as traders absorb US-Iran tensions

Samson Mow, CEO of Jan3 and a long-time Bitcoin advocate, took to X on Monday to note that Bitcoin held steady through the weekend despite rising uncertainty over the strikes on Iran on Saturday.

“There was downward pressure but we just bounced back up each time,” Mow said, adding: “It definitely feels different than from previous months.”

A similar perspective was shared by analysts at CryptoQuant, who said Bitcoin’s short-term holders “aren’t blinking” yet amid the Iran escalation.

“The sell-side pressure from recent buyers is fading. Panic is being replaced by patience, or at least exhaustion,” the analysts said.

VanEck CEO Jan van Eck added to the optimism, saying in a Monday interview with CNBC that Bitcoin is approaching a bottom. He said BTC is set to gradually pick up this year, noting that the four-year halving cycle has been a key driver of price over the past few months.

On Monday, JPMorgan reportedly said that rising Iran tensions are a buying opportunity, not a reason to exit stocks. Analyst Mislav Matejka said the “current geopolitical escalation should ultimately be an opportunity to add, as fundamentals are positive,” even as markets brace for volatility.