$673,400,000 of Inflows Pour Into Bitcoin ETFs in a Single Day As Financial Titan BlackRock Leads the Pack
New knowledge reveals that spot market Bitcoin (BTC) exchange-traded fund (ETF) inflows have reached a brand new all-time excessive because the crypto king pushes close to the $64,000 price ticket for the primary time in years.
Based on the analytics arm of crypto change BitMEX, pushed by asset administration titan BlackRock, Bitcoin ETFs saw over $673 million price of web influx in only a single day – setting a brand new report.
“Bitcoin ETF Move – twenty eighth Feb 2024. All knowledge in. Immediately was a report influx day, with $673.4 million of web influx. This was pushed by Blackrock, which additionally had a report day, with $612.1 million of influx.”
Different spot market Bitcoin ETFs that noticed important inflows embrace Constancy, BitWise, and Cathie Wooden’s ARK Make investments, in line with the information. Nevertheless, the information reveals that Grayscale’s BTC ETF (GBTC) is seeing important outflows – to the tune of lots of of hundreds of thousands of {dollars}.
BitMEX Analysis additionally finds that the overall web influx of funds into Bitcoin ETFs since they have been accepted by the U.S. Securities and Trade Fee (SEC) in mid-January has reached $7.4 billion.
Bitcoin is buying and selling for $62,143 at time of writing, a 1.84% acquire over the past 24 hours. Nevertheless, the flagship digital asset briefly hit $63,600 this morning, a stage it hasn’t seen since 2022.
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