I noticed significant movement in spot Bitcoin funds this week. IBIT from BlackRock attracted about $322 million, while other funds saw withdrawals. The figures suggest that investors are favoring transparent and reliable products— it seems that a well-designed transparent fund wins in this volatile environment.

Total inflows into spot BTC funds reached $225 million, a positive sign after weeks of outflows. Bitcoin itself rose by about 4% over the past week, and its price is now around 77.8K. But the picture isn’t entirely rosy—Ethereum funds recorded outflows of $10.8 million, reflecting investors’ caution toward broader risks.

Interestingly, the flows are not distributed evenly. FBTC lost about $89 million, and GBTC fell by $28 million. This means investors are choosing carefully—they want a transparent and trustworthy fund, not just any random product. Other coins like XRP and Solana attracted small inflows of (7.5 and $1 million, respectively ), indicating selective demand.

The Fear and Greed Index dropped to 10 on Wednesday, reflecting ongoing concerns about geopolitical news and short-term liquidity. Ray Dalio recently criticized Bitcoin on a podcast, but Matt Hwang from Bitwise replied that these criticisms are opportunities—he said Bitcoin represents only 4% of gold’s volume, leaving plenty of room for growth.

Conclusion: The market is choosing cautiously. Investors prefer transparent and reliable products like IBIT, and they’re monitoring macro news closely. Flows are there, but they’re selective—not decisive.