Bitcoin ETF

Bitcoin

Million

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/blackrocks-bitcoin-etf-attracts-major-inflows/" data-wpel-link="internal">BlackRock’s Bitcoin ETF Attracts Major Inflows</a><br></p>
<p style="text-align: justify">As of the end of February, the spot <a href="https://en.coin-turk.com/bitcoins-potential-surge-to-2-3-million-explored-by-ark-invest/" data-wpel-link="internal">Bitcoin</a> ETF market was salvaged thanks to substantial inflows recorded by the iShares Bitcoin Trust (IBIT), affiliated with leading investment asset management firm BlackRock. Grayscale experienced an outflow of $598.9 million on Thursday. Without this counteraction, the spot Bitcoin ETF market could have faced a significant decline.</p> 
<h2 id="blackrock-etf-s-success">BlackRock ETF’s Success</h2> 
<p style="text-align: justify">This balancing act was achieved by BlackRock’s IBIT, which recorded a total inflow of $604 million, sufficiently offsetting the major drop in GBTC. As a result, the total net inflows for all ten spot Bitcoin ETFs were quite weak, reaching approximately $92 million. Particularly, Grayscale’s GBTC outflow on Thursday was the second-largest since the United States Securities and Exchange Commission (<a href="https://en.coin-turk.com/bitcoin-and-altcoins-on-the-rise/" data-wpel-link="internal">SEC</a>) approved Bitcoin ETFs and those from other issuers.</p> 
<p style="text-align: justify">The mentioned outflow is suspected to be linked to Genesis’s decision to sell $1.3 billion worth of GBTC after obtaining court permission. BlackRock’s inflow could confirm the still-growing interest of institutional investors looking to invest in Bitcoin. Especially after considering the daily inflow volumes recorded by BlackRock, which had been long awaited to cross the $10 billion threshold. Earlier this week, the spot Bitcoin ETF recorded a massive inflow of $520 million out of $577 million in net inflows, marking the largest inflow during that period.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-321880 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/etf.jpg" alt="" width="1627" height="521"></p> 
<h2 id="612-million-inflow-into-ibit">$612 Million Inflow into IBIT</h2> 
<p style="text-align: justify">As of February 28, IBIT took it a step further with an inflow of $612 million. To date, this continues to be the largest inflow into BlackRock’s spot Bitcoin ETF. The asset manager’s milestones indicate that BlackRock is performing better than expected. Overall, the growth of the spot Bitcoin ETF is believed to be responsible for the recent price rise of the flagship cryptocurrency Bitcoin. The token’s price has surpassed $60,000 and is comfortably positioned at $61,790.37 despite a 1.98% decrease in the last 24 hours. This surge could be a driving force for investors looking to capitalize on the token’s momentum and secure some profits.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/blackrocks-bitcoin-etf-attracts-major-inflows/" data-wpel-link="internal">BlackRock’s Bitcoin ETF Attracts Major Inflows</a></h5>

BlackRock’s Bitcoin ETF Attracts Major Inflows

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