Yesterday was another record inflow day for the recently approved Bitcoin exchange-traded fund in the US.
On March 12, Bitcoin ETF net inflows exceeded $1 billion. data From BitMEX Research.
At the same time, Blackrock’s IBIT product surpassed 200,000 earlier this week. BTC
+1.62%
Assets under management recorded a record inflow of $849 million.
When converted to Bitcoin, it reached an all-time high of 14,706 BTC. inflow.
Total net Bitcoin ETF inflows since January 11, 2024 reached 4.1 billion dollars.
As of yesterday, spot Bitcoin ETFs hold over 90% of the daily volume market share of ETFs offering Bitcoin exposure, which is an all-time high. Meanwhile, Bitcoin futures ETFs now only account for 10% of the market share.
“Seeing net inflows of more than $1 billion, a new record more than a month after launch, is very impressive for any ETF,” said George Calle, Vice President of Research at The Block.
“American scene Bitcoin “The ETF has achieved widespread success, exceeding even our most optimistic expectations.” GSR research analyst Brian Rudick told The Block yesterday. “Over $10 billion in inflows in just two months is approaching levels expected for most first years, and there is debate as to why inflows could increase from here, including strengthening issuer sales efforts and adding to asset manager product offerings. . , standardizing GBTC outflows.”
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