Crypto Blog
Just one day after the spot Bitcoin ETFs achieved a notable milestone with a net inflow of $1.05 billion, BlackRock’s IBIT saw inflows exceeding the total outflows of Grayscale’s GBTC for the first time.
According to data compiled by SoSo Value, as of March 13th, IBIT’s cumulative inflow amounted to $12.03 billion, whereas GBTC’s cumulative outflows stood at $11.4 billion.BlackRock’s spot Bitcoin ETF – iShares Bitcoin Trust – has been one of the most popular investment vehicles since its approval two months ago enabling investors exposure to BTC’s price moves. It recorded net inflows of $586 million or 8,017 BTC on March 13th, pushing its total historical net inflow to above $12 billion.
Meanwhile, Fidelity’s FBTC attracted $281.5 million in inflows, followed by ARK 21Shares’s ARKB with 44.6 inflows and Franklin Templeton’s EZBC with $19.1 million. VanEck’s HODL, on the other hand, raked in $16.5 million in inflows. The asset manager had recentlyBitwise’s BITB, Valkyrie ‘BRRR’, and WisdomTree’s BTCW settled for $5.6 million, $4.1 million, and $2.3 million respectively during the same period. There has been a total inflow of $11.
Financial advisors are bullish but not surprised by the size of inflows of these funds that were reluctantly approved by the SEC this year. Bitwise CIO Matt Hougan, for one,According to JMP Securities, these funds might experience inflows of over $220 billion by 2027, potentially resulting in a fourfold increase in Bitcoin’s price to $288,000, given the multiplier effect on the new capital.
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