News

Bitcoin Spot ETFs Hit $1.1B Inflows, BlackRock IBIT Sets Record Turnover

Key Points:

Total net inflow highlights growing investor confidence in Bitcoin Spot ETFs.
BlackRock’s ETF dominates with $756M in inflows, leading the surge.
Fidelity’s Bitcoin Spot ETFs show steady demand, reflecting broader market interest.

According to SoSoValue, investors have shown extraordinary interest in Bitcoin spot ETFs, as their net inflows reached $1.114 billion combined yesterday.

Bitcoin Spot ETFs See $1.1B Inflows

This incredible activity reflects growing confidence in Bitcoin-based exchange-traded funds because investors increasingly use such regulated products to take positions in the leading cryptocurrency.

Front and centre were BlackRock’s IBIT ETF, posting a record $4.65 billion in daily turnover as the fund’s popularity among investors continues to grow. BlackRock’s IBIT ETF was solely responsible for a $756-million net inflow for the same period, accounting for the lion’s share of yesterday’s ETF inflows. This kind of unprecedented activity signals that institutional and retail investors are considering Bitcoin ETFs as a safer and more accessible path to Bitcoin investment. But in this domain, BlackRock’s ETF has stolen the show, leveraging its strong asset manager credentials to attract high trade volumes.

Fidelity’s Bitcoin ETF Shows Strong Demand with $135M Inflows

Fidelity’s Bitcoin ETF, FBTC, also joined in with a net inflow of $135 million yesterday. Far smaller than BlackRock’s, the steady demand for Fidelity’s product means the interest in Bitcoin ETFs is diversified across multiple issuers. The collective influx into these ETFs indicates Bitcoin’s resurgence in the financial markets thanks to increased institutional participants offering crypto assets to investors via new investment products.

The new activities in Bitcoin spot ETFs are pretty significant, as they may impact the overall cryptocurrency market by increasing its liquidity and increasing the adoption of Bitcoin inside traditional finance. Analysts say that sustained demand for Bitcoin ETFs means continued inflows can support asset prices and legitimize Bitcoin as an asset class, bridging the gap between crypto and traditional finance even more.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.