According to PANews, on April 1st, BlackRock's IBIT trading volume reached $1.36 billion, Grayscale's GBTC trading volume was $714 million, and Fidelity's FBTC trading volume amounted to $554 million. In addition, GBTC experienced a net outflow of funds of $303 million on the same day, while ARKB saw an outflow of $400,000 and BITB had an inflow of $1 million.
These trading volumes and fund flows highlight the growing interest in Bitcoin and other cryptocurrencies among institutional investors. As more institutions enter the market, the demand for Bitcoin and other digital assets is expected to increase, potentially driving up prices and further legitimizing the asset class. The involvement of major financial institutions like BlackRock, Grayscale, and Fidelity also signals a shift in perception, as these companies were once skeptical of cryptocurrencies but are now actively participating in the market.
