U.S. spot bitcoin exchange-traded funds reported $1.81 billion in net inflows last week

U.S. spot bitcoin exchange-traded funds saw net inflows of $1.81 billion last week, extending their streak of positive weekly inflows to three consecutive weeks.

SoSoValue data shows that the spot bitcoin ETFs in the U.S. recorded their third consecutive weekly inflow for the week ending May 2, following $3.06 billion in inflows the previous week.

The total cumulative net inflows rose to $40.24 billion on Friday, the highest level since Feb. 11. The total weekly trading volume for the 12 ETFs amounted to $13.23 billion last week, compared to $18.76 billion the previous week.

As spot bitcoin ETFs continue to gain traction, prestigious universities are also taking notice. Brown University, for instance, disclosed in a filing with the Securities and Exchange Commission on Friday that it holds nearly $5 million worth of shares in BlackRock’s spot bitcoin ETF.

IBIT, the largest spot bitcoin ETF with $59.64 billion in net assets, reported net inflows of $674.91 million on Friday, bringing its cumulative inflows to $43.48 billion.

Bitcoin fell 1.35% in the past 24 hours to trade at $94,606 at the time of writing, according to The Block's price page. Ether dropped 1.02% to change hands at $1,822.