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Bitcoin ETFs: $880M inflows despite muted Google searches

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What does low search interest mean for Bitcoin ETFs as BTC hits $70K?
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Bitcoin ETFs see record inflow
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  • Bitcoin ETFs saw $880 million inflows on the 4th of June.
  • Despite Bitcoin’s rise, Google searches for related terms remain low.

Since its debut in January 2024, spot Bitcoin [BTC] Exchange-Traded Funds (ETFs) have showcased exceptional performance.

Recent data indicates substantial inflows, with a collective $880 million and $488.1 million inflows recorded on 4th June and 5th June respectively.

Farside Investors’ data reveals that on 4th June, the Fidelity Wise Origin Bitcoin Fund led in inflows, totaling $220.6 million. 

At the same time, Bitcoin has also breached its much-anticipated $70K mark, with press time prices of $71,082.55.

Google data shows a declining trend

However, what’s surprising here is that Google data showed a strikingly low level of search interest compared to the 2021 bull run.

This suggests that retail investors, a significant market segment, have yet to fully engage with Bitcoin ETFs which might be a bullish indicator for potential future growth. 

According to Google Trends, which assigns a score based on a search interest’s relative peak popularity, terms like “Bitcoin” and “btc” scored 41 and 17 out of 100 respectively.

However, phrases such as “bitcoin etf,” “btc etf,” and “Bitcoin ETF inflows” registered a score of less than 1 globally.

Google Trends

Source: Google Trends

Execs weighs in

Adding to the fray, Crypto analyst Miles Deutscher, in his 6th June X post, underlined that interest in crypto-related content on YouTube has declined compared to the peak levels seen in 2021.

“There is no indicator in the world that sums up the current state of the market better than crypto YT views. $BTC at $70k in 2021: 4m views/day. $BTC at $70k in 2024: 800k views/day. Retail isn’t back yet.” 

YouTube trend

Source: Miles Deutsche/X

Deutscher further highlighted that the current market cycle has posed greater challenges for most investors compared to previous bullish periods.

Additionally, altcoins have generally not performed as well as Bitcoin, leading to a mismatch between market sentiment and actual price movements.

Despite the decline in search interest, the community remains bullish on Bitcoin, especially applauding the accumulation of Bitcoin by various Bitcoin ETFs.

Echoing a similar sentiment, Bit Paine took to X and said, 

Bit Paine

Source: Bit Paine/X

 

 

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Ishika Kumari is a Crypto Analyst and Content Strategist at AMBCrypto, specializing in the analysis of cryptocurrency regulations, market trends, and the socio-political impact of blockchain technology. Her expertise is grounded in her academic background as a graduate of Political Science from the renowned University of Delhi. This discipline has equipped her with a sophisticated framework for analyzing complex governance models, international regulatory landscapes, and the economic principles that underpin decentralized systems. At AMBCrypto, Ishika applies this unique analytical lens to her work. She excels at breaking down intricate subjects—from the technicalities of new protocols to the nuances of global crypto legislation—into clear, accessible, and insightful content. Her primary mission is to bridge the gap between the complexity of the digital asset industry and the everyday reader, ensuring that AMBCrypto's audience is not just informed, but truly understands the forces shaping the future of finance.
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