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Bitcoin ETFs Witness Record Inflows
On March 27, Bitcoin (BTC) ETFs experienced significant net inflows totaling a substantial $243.4 million, equivalent to 3,534.7 BTC. BlackRock’s IBIT led the pack with a net inflow of $323.8 million, or 4,701.5 BTC, bringing its total net inflow to an impressive $13,862.7 billion, equivalent to 250,787 BTC. This marks the largest inflow BlackRock has seen in 7 days, surpassing its lowest inflow from just a week prior by over tenfold.
Ark Investment Management’s ArkB also had a remarkable performance, seeing a record-breaking day with net inflows of $200.7 million, equivalent to 2,915.2 BTC. This pushed its total net inflows to $2,276.7 billion, equivalent to 44,086 BTC. In contrast, the Grayscale Bitcoin Trust (GBTC) faced outflows of $299.8 million, or 4,354.2 BTC, resulting in total net outflows of $14,662.8 billion, equivalent to 282,454 BTC.
Fidelity’s FBTC experienced a notably low inflow of just $1.5 million, equating to 21.8 BTC. Despite this, their total net inflows amounted to an impressive $7,494.0 billion, equivalent to 140,905 BTC, as reported by BitMEX.
Overall, despite the outflows from GBTC, the net inflows into Bitcoin ETFs reached a substantial $11,942.6 billion, equivalent to 210,264 BTC, according to BitMEX data.
Conclusion
The recent surge in net inflows to Bitcoin ETFs indicates growing investor interest and confidence in the cryptocurrency market. The significant inflows recorded by various ETFs, such as BlackRock’s IBIT and Ark Investment Management’s ArkB, demonstrate a bullish sentiment towards Bitcoin. Despite some outflows experienced by GBTC, the overall trend of rising net inflows reflects a positive outlook for the cryptocurrency industry as a whole.
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