Bitcoin ETF flows are recording a significant increase, so what is the reason?
Inflows from Bitcoin ETFs remained steady despite their price correction as mining revenues rose over the past month.
After crossing the $70,000 mark, Bitcoin witnessed a massive correction and returned to the $67,000 mark. Despite the correction in price, interest in Bitcoin was relatively high, as evidenced by the steady inflows of ETFs flowing into the market.
Recent reports indicate that US Bitcoin ETFs have accumulated a total of 850,707 BTC since January of this year, with this significant accumulation being led by Grayscale's GBTC ETF which, despite a notable decline in its initial reserves, still holds the largest stake at 289,280 BTC. digital.
BlackRock's iShares Bitcoin Trust (IBIT) has shown significant growth as it has expanded its reserve from just 225 BTC at launch to an impressive 283,203 BTC. Other major players in the US market include Fidelity's Wise Bitcoin ETF worth 160,620. of Bitcoin and the Ark 21Shares ETF (ARKB) worth 48,414 Bitcoin.
