Spot Bitcoin (CRYPTO:BTC) ETFs have attracted $500 million in inflows this week, signaling renewed investor interest as Bitcoin edges closer to the $60,000 mark.

Despite recent downturns where BTC fell over 16% in the last 30 days, the cryptocurrency is now trading at $58,124, up 1.3% according to CoinMarketCap.

Leading ETFs like BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity's offerings have seen substantial inflows, indicating strong market confidence in a potential bullish reversal.

However, Grayscale’s Bitcoin Trust (GBTC) reported net outflows, reflecting a cautious sentiment among some investors amid market volatility.