Key Points:
Read more: Best Bitcoin ETFs To Buy In 2024
In contrast, Grayscale’s GBTC witnessed an outflow of $199 million, while Bitwise’s BITB experienced an inflow of $7.5 million on the same day. BlackRock’s IBIT, on the other hand, saw a substantial net inflow of $307 million.
FBTC’s achievement of surpassing $10 billion in assets under management (AUM) makes it the second spot Bitcoin ETF to do so, following BlackRock’s IBIT, which reached this milestone on March 1st.
The trading volume data for Bitcoin ETFs on April 5 indicates significant activity, with BlackRock’s IBIT leading at $1.09 billion, followed by GBTC at $554 million and FBTC at $420 million.
Investor enthusiasm for BlackRock Bitcoin ETF and Fidelity Bitcoin ETF remains robust, which is evident from their consistent inflows even during Bitcoin price declines. BlackRock has expanded its Authorized Participants list, aiming to enhance market liquidity and investor accessibility.
Spot Bitcoin exchange-traded products (ETPs) have rapidly accumulated substantial AUM since their introduction in early 2024. These products offer investors exposure to Bitcoin, sparking increased interest in cryptocurrencies as a legitimate asset class.
However, amid this excitement, new investors are likely pondering the implications of Bitcoin halving. With the reward for mining halving from 6.25 to 3.125 bitcoin, estimated to occur in April 2024, discussions about Bitcoin’s future trajectory have intensified.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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