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Bitcoin ETFs Inflows Surge
On March 11, 2024, Bitcoin ETF inflows experienced a significant surge, totaling $505.5 million, as indicated by data from BitMEXResearch. The standout performer in this scenario was BlackRock’s iShares Bitcoin ETF (IBIT), attracting inflows of $562.9 million, reflecting a 0.12% increase in overall assets. Additionally, Fidelity’s FBTC fund also contributed positively to this momentum, with $215.5 million in new investments.
Notable Inflows in Newborn Nine ETFs
Aside from the strong performance of BlackRock and Fidelity, other noteworthy additions in Newborn Nine ETFs included Bitwise’s BITB fund with $49.8 million, ARK Invest’s ARKB fund with $13.0 million, and VanEck’s BRRR fund with $118.8 million. VanEck’s decision to waive fees until 2025 resulted in its most successful day thus far, surpassing previous daily inflow records. Conversely, Invesco’s BTCO ETF experienced an outflow of $9.7 million during this period.
Grayscale outflows vs. Newborn Nine ETFs
On the other hand, Grayscale witnessed continued outflows, with $494 million exiting the fund, the highest level reported since February 29. However, the Newborn Nine ETFs displayed resilience by significantly outweighing the outflows from Grayscale for the sixth consecutive day. Only two instances since January 26 have observed total outflows surpassing inflows.
Bitcoin Net Inflows
Regarding Bitcoin specifically, the net inflow totaled 7,009 BTC, with BlackRock’s IBIT fund contributing 7,805 BTC to this figure. Fidelity’s FBTC fund added 2,988 BTC, while Bitwise’s BITB fund saw an inflow of 690 BTC. ARK Invest’s ARKB fund and VanEck’s BRRR fund witnessed gains of 180 BTC and 1,648 BTC, respectively.
The robust performance of Bitcoin ETFs on March 11, 2024, indicates a heightened interest in Bitcoin investments among both institutional and retail investors alike.
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