Bitcoin Spot ETFs See $557M Inflows, BlackRock’s IBIT Leads with $572M
The U.S. spot Bitcoin exchange-traded fund (ETF) market witnessed a surge in activity on Wednesday, with total inflows reaching $557 million.
BlackRock’s iShares Bitcoin Trust ETF (IBIT) led the pack, attracting $572 million in inflows. As Bitcoin reached an all-time high of $103,600 on Thursday, investor enthusiasm for Bitcoin spot ETFs exposure remains strong.
Fidelity’s Wise Origin Bitcoin Fund also performed well, securing $17.2 million in inflows, further cementing the appeal of Bitcoin ETFs among diverse investor groups.
However, not all funds benefited from the day’s momentum. Grayscale Bitcoin Trust ETF, one of the oldest Bitcoin-related financial products, experienced $94.3 million in outflows.
Bull Market Continues
After a week of sideways movement, Bitcoin finally broke through $100,000. The reason for this current rally has been linked to Donald Trump winning the 2024 United States Presidential Election.
BTC Institutional Adoption Driven by Launch of Spot ETFs
The year 2024 has marked a turning point for Bitcoin’s institutional adoption, transforming it into a cornerstone of mainstream finance, reports CryptoQuant.
The launch of Bitcoin spot ETFs in January has spearheaded this movement, providing regulated and accessible pathways for institutional investors to enter the Bitcoin market.
“2024 was a defining year for Bitcoin’s institutional adoption, driven by the launch of Bitcoin spot ETFs in January, which enabled regulated and straightforward investment,” reports CryptoQuant.
By year-end, ETFs have held over 1 million Bitcoin, this showcases robust institutional demand and solidifies Bitcoin’s position in traditional finance.
According to CryptoQuant, Bitcoin’s realized price valuation — a metric that calculates the average purchase price of all circulating Bitcoin — sets a potential price ceiling at $146k.
The post Bitcoin Spot ETFs See $557M Inflows, BlackRock’s IBIT Leads with $572M appeared first on Cryptonews.
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Bitcoin Spot ETFs See $557M Inflows, BlackRock’s IBIT Leads with $572M
The U.S. spot Bitcoin exchange-traded fund (ETF) market witnessed a surge in activity on Wednesday, with total inflows reaching $557 million.
BlackRock’s iShares Bitcoin Trust ETF (IBIT) led the pack, attracting $572 million in inflows. As Bitcoin reached an all-time high of $103,600 on Thursday, investor enthusiasm for Bitcoin spot ETFs exposure remains strong.
Fidelity’s Wise Origin Bitcoin Fund also performed well, securing $17.2 million in inflows, further cementing the appeal of Bitcoin ETFs among diverse investor groups.
However, not all funds benefited from the day’s momentum. Grayscale Bitcoin Trust ETF, one of the oldest Bitcoin-related financial products, experienced $94.3 million in outflows.
Bull Market Continues
After a week of sideways movement, Bitcoin finally broke through $100,000. The reason for this current rally has been linked to Donald Trump winning the 2024 United States Presidential Election.
BTC Institutional Adoption Driven by Launch of Spot ETFs
The year 2024 has marked a turning point for Bitcoin’s institutional adoption, transforming it into a cornerstone of mainstream finance, reports CryptoQuant.
The launch of Bitcoin spot ETFs in January has spearheaded this movement, providing regulated and accessible pathways for institutional investors to enter the Bitcoin market.
“2024 was a defining year for Bitcoin’s institutional adoption, driven by the launch of Bitcoin spot ETFs in January, which enabled regulated and straightforward investment,” reports CryptoQuant.
By year-end, ETFs have held over 1 million Bitcoin, this showcases robust institutional demand and solidifies Bitcoin’s position in traditional finance.
According to CryptoQuant, Bitcoin’s realized price valuation — a metric that calculates the average purchase price of all circulating Bitcoin — sets a potential price ceiling at $146k.
The post Bitcoin Spot ETFs See $557M Inflows, BlackRock’s IBIT Leads with $572M appeared first on Cryptonews.
Read More
China’s Bitcoin Sales Could Spark a Major Price Drop