Bitcoin ETF

Bitcoin

Spot

<ul> 
 <li>Spot Bitcoin ETFs saw their highest single-day net inflow since the launch of the Bitcoin ETF in the United States.</li> 
 <li>On March 12th, according to SoSoValue data, net inflows into spot Bitcoin exchange-traded funds (ETFs) surpassed $1.05 billion.</li> 
 <li>BlackRock’s iShares Bitcoin ETF (IBIT) recorded inflows of $849 million, setting a new record for the highest inflow recorded to date.</li> 
</ul> 
<p><strong>The strengthening demand in the spot Bitcoin ETF market led to Bitcoin’s price reaching $73,000 early on Wednesday.</strong></p> 
<h2 id="strong-spot-bitcoin-etfs-breaking-records-strong"><strong>Spot Bitcoin ETFs Breaking Records</strong></h2> 
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-126552" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="bitcoin-btc" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p> 
<p>Spot Bitcoin ETFs saw their highest single-day net inflow since the launch of the Bitcoin ETF in the United States, and Bitcoin recovered from a dip following higher CPI inflation data to reach a new all-time high of $73,000.</p> 
<p>On March 12th, according to SoSoValue data, net inflows into spot Bitcoin exchange-traded funds (ETFs) surpassed $1.05 billion. The massive inflow came on the second-highest volume day for the 10 Bitcoin ETFs. In fact, it was the best day in the last five weeks, reaching a volume of $8.5 billion. Bloomberg Senior ETF Analyst Eric Balchunas said that only five stocks had higher trading volume than the $8.5 billion volume.</p> 
<p>While BlackRock’s iShares Bitcoin ETF (IBIT) had almost $4 billion in volume, the VanEck Bitcoin Trust ETF (HODL) and Invesco Galaxy Bitcoin ETF (BTCO) showed significant demand in other ETFs with volumes of $150 million and $250 million, respectively. VanEck recently reduced Bitcoin ETF management fees to 0% for the next twelve months.</p> 
<p>BlackRock’s iShares Bitcoin ETF (IBIT) recorded inflows of $849 million, setting a new record for the highest inflow recorded to date. Following the latest inflow, BlackRock’s net inflow reached $11.44 billion, and assets under management surpassed $14.5 billion.</p> 
<p>Fidelity Bitcoin ETF (FBTC) and Ark 21Shares (ARKB) Bitcoin ETF saw inflows of $51.6 million and $93 million, respectively. Bitwise (BITB) and other spot Bitcoin ETFs saw marginally lower inflows. VanEck Bitcoin ETF (HODL) saw an inflow of $82.9 million due to 0% fees in a more competitive environment.</p> 
<p>Additionally, GBTC recorded another $79 million in outflows, marking a significant decrease indicating the end of Genesis’ GBTC sales. Crypto lender Genesis received bankruptcy court approval to sell 35 million GBTC shares worth $1.3 billion. Notably, GBTC’s net outflow has exceeded $11.12 billion to date.</p> 
<h2 id="strong-bitcoin-price-surpasses-73-000-strong"><strong>Bitcoin Price Surpasses $73,000</strong></h2> 
<p>The BTC price rose by over 2% in the last 24 hours, reaching a new all-time high, and is currently trading at $73,390. The 24-hour low and high are $68,728 and $73,650, respectively. Additionally, trading volume increased slightly in the last 24 hours, indicating increased interest among traders.</p> 
<p>Bitcoin futures and options open interest (OI) continue to remain at record levels, with total futures OI exceeding $36.97 billion, according to Coinglass data.</p> 
<p>CME Bitcoin futures OI reached a new record level of $11.47 billion. Despite sentiments of consolidation due to excessively high funding rates, the estimate of Bitcoin reaching $100,000 indicates continued consolidation.</p> 
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Increased Demand for Spot Bitcoin ETFs Boosts BTC Price to $73,000!

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