BlackRock’s IBIT Leads Bitcoin Spot ETFs with $308 Million Single-Day Inflow
In a major development that shows the shifting dynamics of the crypto investment landscape, new data from
SoSoValue reveals that Bitcoin (BTC) spot ETFs garnered a total net inflow of $203 million yesterday. This milestone marks the fourth consecutive day of positive net inflows for these investment vehicles and comes at a pivotal moment as the Bitcoin halving event is on the horizon.
Topping the charts was the BlackRock ETF IBIT, which reported an unprecedented single-day net inflow of approximately $308 million. This remarkable influx of capital catapults IBIT’s total historical net inflows to an impressive $14.77 billion, reaffirming its dominant position in the Bitcoin spot ETF sector.
BlackRock, a global asset management titan, has been increasingly vocal about its bullish stance on cryptocurrencies. The substantial investment into IBIT indicates a growing institutional endorsement of Bitcoin as a legitimate and potentially lucrative investment asset. Conversely, the Grayscale Bitcoin Trust (GBTC) faced a net outflow of $198 million on the same trading day.
This downward trend has persisted for GBTC, with its total historical net outflows now reaching a concerning $15.51 billion. The continuous outflows from GBTC may raise questions about investor sentiment toward the trust, potentially reflecting concerns about its fee structure, management, or evolving market preferences.
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