Eric Balchunas, who is better known in the crypto world after Bitcoin spot ETFs were accepted in the US on January 10, said that he expects more investment in Bitcoin funds this week.

“I think it’s FOMO”

Evaluating the inflows in Bitcoin spot ETFs yesterday via X, Balchunas described the situation as “FOMO”:

“IBIT, the Blackrock ETF, saw its highest volume in the last 6 months with $3.3 billion. It’s a bit strange that this happened even though Bitcoin only rose by 4%… ETF volumes usually increase like this in a crisis or decline. Of course, volumes can increase from time to time when there is a FOMO frenzy. We saw this with the ARKK ETF in 2020. Considering the increase in price in the last few days, I think it’s FOMO. Therefore, I think there will be larger inflows this week”

“There is an increase in the others as well”

Balchunas also said that these are Monday evening figures, and that Tuesday evening volume figures will emerge this evening. The famous analyst said, “I still think FOMO is confirmed. Although the IBIT ETF has the highest volume by far, there are also serious increases in other ETFs.”

Bitcoin spot ETFs in the US completed yesterday’s trading day with net inflows of $870 million, which was the highest investment seen since June 4. BlackRock’s IBIT ETF received a net investment of $642 million. The ETF that was close to it was Fidelity’s FBTC fund with $133 million.