Blackrock's BTC ETF Hits $788M Inflows

General News
2024-03-07 22:17:49

The BlackRock iShares Bitcoin Trust (IBIT) ETF experienced a significant surge in investor interest, recording $788 million in daily inflows on March 5, marking a record high and surpassing the previous peak of $612.1 million on February 28.


As the Bitcoin market achieves new milestones, including a record price of $69,324 on March 5, U.S. spot Bitcoin ETFs have seen increased activity. According to Farside investment data, the sector witnessed collective inflows amounting to $648.3 million on the day the new all-time high was reached.


However, not all ETFs shared in this influx of funds. Grayscale's Bitcoin Trust (GBTC) and Invesco's Galaxy Bitcoin ETF experienced net outflows, losing $332.5 million and $14.2 million respectively on March 5. Conversely, other ETFs like Fidelity Wise Origin Bitcoin Fund and ARK 21Shares Bitcoin ETF saw significant contributions to the day’s net positive inflows.


Despite these outflows, the overall Bitcoin ETF market in the U.S. has amassed net inflows totaling $8.5 billion. IBIT and the Franklin Bitcoin ETF (FBTC) are leading the pack, with no recorded net outflows and total contributions of $9.16 billion and $5.3 billion respectively up to March 5.


On the other hand, GBTC’s Bitcoin reserves have decreased by 33% since its conversion into an ETF, from an original 620,000 BTC to about 420,680 BTC. Despite these variances, U.S.-based Bitcoin ETFs have collectively seen trading volumes exceeding $10 billion, reflecting the growing investor interest amid the ongoing Bitcoin bull run.

Bu haber hakkında yorum yapılamaz.

Benzer haberler

Hiçbir şey bulunamadı