Bitcoin Cements Dominance Over Gold, Records $23.6B Net Inflows
Share:
Bitcoin’s ascent in the financial landscape has been nothing short of remarkable, as evidenced by the significant influx of capital into Bitcoin exchange-traded funds (ETFs). A staggering $23.6 billion has flowed into Bitcoin ETFs, excluding Grayscale’s GBTC, since the commencement of the year. This surge in investment contrasts starkly with the outflows experienced by global gold ETFs, which have witnessed a substantial $5 billion departure of funds in 2024 alone.
The impact of this shift is particularly notable in key regions such as North America and Europe, where gold ETF outflows amount to -$4.7 billion and -$1.4 billion, respectively. Such data underscores the growing dominance of Bitcoin as the preferred investment choice over traditional assets like gold.
Recent Surge in Bitcoin ETF Inflows
In recent days, the momentum behind Bitcoin ETFs has only accelerated, with a discernible surge in inflows into specific funds such as the U.S. Spot Bitcoin ETF and Fidelity’s FBTC. On March 15th, inflow figures witnessed a remarkable spike compared to preceding days, signaling a burgeoning interest among investors.
This surge gains further significance when juxtaposed with outflows from prominent Bitcoin investment vehicles like Grayscale’s GBTC and BlackRock’s IBIT. The sustained inflow trends underscore the continued favorability of Bitcoin as a lucrative investment avenue, capturing the attention and capital of astute investors globally.
Also Read: Solana (SOL) Price To Hit $210 Or Correction To $180 Ahead?
Market Size and Market Optimism
JPMorgan’s assessment of the potential market size for Bitcoin ETFs further solidifies the cryptocurrency’s status as a formidable asset class. With projections reaching a staggering $62 billion, using gold as a benchmark, Bitcoin’s disruptive potential becomes increasingly evident. February proved to be a watershed moment for the cryptocurrency market, witnessing a surge in total market capitalization by nearly 40% to an impressive $2.2 trillion.
Accompanying this surge was a remarkable 31% increase in Bitcoin’s price within a month, reaching an unprecedented all-time high of over $73,800. This surge in value coincided with significant inflows into Bitcoin ETFs, further fueling optimism among investors. Despite recent corrections in the market, the 24-hour trade volume for Bitcoin has demonstrated resilience, experiencing a substantial increase and signaling sustained investor activity.
Also Read: Cronos (CRO) Price Rallies 12% On Major Upgrade Announcement
The post Bitcoin Cements Dominance Over Gold, Records $23.6B Net Inflows appeared first on CoinGape.
In This News
Coins
$ 101.79K
-1.59%
$ 0.0186
-1.82%
$ 0.00...361
$ 0.000207
$ 0.000603
Share:
In This News
Coins
$ 101.79K
-1.59%$ 0.0186
-1.82%$ 0.00...361
$ 0.000207
$ 0.000603
Share:
Read More
Bitcoin Plunges Sharply Again – Here’s Why and the Latest Data
Bitcoin Price Plummets: BTC Crashes Below $102,000 in Dramatic Market Shift
Bitcoin Cements Dominance Over Gold, Records $23.6B Net Inflows
Share:
Bitcoin’s ascent in the financial landscape has been nothing short of remarkable, as evidenced by the significant influx of capital into Bitcoin exchange-traded funds (ETFs). A staggering $23.6 billion has flowed into Bitcoin ETFs, excluding Grayscale’s GBTC, since the commencement of the year. This surge in investment contrasts starkly with the outflows experienced by global gold ETFs, which have witnessed a substantial $5 billion departure of funds in 2024 alone.
The impact of this shift is particularly notable in key regions such as North America and Europe, where gold ETF outflows amount to -$4.7 billion and -$1.4 billion, respectively. Such data underscores the growing dominance of Bitcoin as the preferred investment choice over traditional assets like gold.
Recent Surge in Bitcoin ETF Inflows
In recent days, the momentum behind Bitcoin ETFs has only accelerated, with a discernible surge in inflows into specific funds such as the U.S. Spot Bitcoin ETF and Fidelity’s FBTC. On March 15th, inflow figures witnessed a remarkable spike compared to preceding days, signaling a burgeoning interest among investors.
This surge gains further significance when juxtaposed with outflows from prominent Bitcoin investment vehicles like Grayscale’s GBTC and BlackRock’s IBIT. The sustained inflow trends underscore the continued favorability of Bitcoin as a lucrative investment avenue, capturing the attention and capital of astute investors globally.
Also Read: Solana (SOL) Price To Hit $210 Or Correction To $180 Ahead?
Market Size and Market Optimism
JPMorgan’s assessment of the potential market size for Bitcoin ETFs further solidifies the cryptocurrency’s status as a formidable asset class. With projections reaching a staggering $62 billion, using gold as a benchmark, Bitcoin’s disruptive potential becomes increasingly evident. February proved to be a watershed moment for the cryptocurrency market, witnessing a surge in total market capitalization by nearly 40% to an impressive $2.2 trillion.
Accompanying this surge was a remarkable 31% increase in Bitcoin’s price within a month, reaching an unprecedented all-time high of over $73,800. This surge in value coincided with significant inflows into Bitcoin ETFs, further fueling optimism among investors. Despite recent corrections in the market, the 24-hour trade volume for Bitcoin has demonstrated resilience, experiencing a substantial increase and signaling sustained investor activity.
Also Read: Cronos (CRO) Price Rallies 12% On Major Upgrade Announcement
The post Bitcoin Cements Dominance Over Gold, Records $23.6B Net Inflows appeared first on CoinGape.
In This News
Coins
$ 101.79K
-1.59%$ 0.0186
-1.82%$ 0.00...361
$ 0.000207
$ 0.000603
Share:
In This News
Coins
$ 101.79K
-1.59%$ 0.0186
-1.82%$ 0.00...361
$ 0.000207
$ 0.000603
Share:
Read More
Bitcoin Plunges Sharply Again – Here’s Why and the Latest Data