United

Bitcoin ETF

Bitcoin

Billion

Daily

<p><a href="https://www.cryptopolitan.com/grayscales-bitcoin-etf-market-share-falls/" rel="noopener noreferrer nofollow">Bitcoin</a> exchange-traded Funds (ETFs) in the United States have reached an unprecedented milestone, with daily inflows hitting $1 billion for the first time.&nbsp;</p>
<p>This investment surge indicates the growing interest and confidence in Bitcoin as an asset class among institutional investors.&nbsp;</p>
<p>The influx of capital into Bitcoin ETFs has coincided with a notable bull run in the cryptocurrency market, propelling the daily inflows of capital stored by the Bitcoin network to a staggering $2 billion per day.</p>
<h2 class="wp-block-heading" id="blackrock-s-ishares-bitcoin-etf-leads-1-billion-inflows">BlackRock’s iShares Bitcoin ETF leads $1 billion inflows</h2>
<p>Leading the charge in this surge of investment is BlackRock’s iShares Bitcoin ETF (IBIT), which accounted for a substantial portion of the record-breaking daily inflow, amounting to $849 million.&nbsp;</p>
<p>Other<a href="https://twitter.com/woonomic/status/1767696568143245451" rel="noopener noreferrer nofollow" target="_blank"> notable</a> contributors include ARK 21Shares Bitcoin ETF (ARK), VanEck Bitcoin Trust ETF (HOLD), and Fidelity Advantage Bitcoin ETF (FBTC), which recorded inflows of $93 million, $82.9 million, and $51.6 million, respectively.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Daily inflows of capital being stored by the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Bitcoin</a> network just hit $2b per day, that's the level we hit in the last full blown bull regime. This time it should climb much higher.<br><br>Spot ETFs are opening up the inflow pipes markedly. <a href="https://t.co/tKmzbd3SEJ" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/tKmzbd3SEJ</a></p>— Willy Woo (@woonomic) <a href="https://twitter.com/woonomic/status/1767696568143245451?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">March 12, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The collective inflow into Bitcoin ETFs over the last 13 days has surpassed $11.1 billion, with March 12 witnessing the highest daily inflow of $1.045 billion.</p>
<p>In tandem with the influx of capital into Bitcoin ETFs, the market price of Bitcoin has surged to a new all-time high, reaching $73,000 at the time of reporting.&nbsp;</p>
<p>This bullish momentum reflects growing investor optimism and underscores Bitcoin’s status as a coveted investment asset.</p>
<h2 class="wp-block-heading" id="shift-in-market-dynamics-grayscale-s-gbtc-loses-market-share">Shift in market dynamics: Grayscale’s GBTC loses market share</h2>
<p>As Bitcoin ETFs gain traction and attract substantial inflows, the market dynamics are experiencing a notable shift.&nbsp;</p>
<p><a href="https://www.cryptopolitan.com/grayscale-bitcoin-trust-gbtc-witnesses/" rel="noopener noreferrer nofollow">Grayscale’s </a>Bitcoin Trust (GBTC), once dominant in the market, has declined its market share, falling below 50% for the first time since the inception of spot Bitcoin ETFs in the U.S.</p>
<p>Previously, Grayscale’s GBTC held around 99.5% of the total assets under management of U.S. spot Bitcoin ETFs. Still, consistent daily outflows averaging $329 million per day have eroded its market share over time.</p>
<h2 class="wp-block-heading" id="bitcoin-etfs-hit-1b-daily-inflows-market-dynamics-shift">Bitcoin ETFs hit $1B daily inflows, market dynamics shift</h2>
<p>The historic milestone of Bitcoin ETFs attracting $1 billion in daily inflows underscores the growing institutional interest in cryptocurrencies as a legitimate asset class.&nbsp;</p>
<p><a href="https://www.cryptopolitan.com/blackrocks-ibit-etf-hits-10-billion-aum/" rel="noopener noreferrer nofollow">BlackRock</a>‘s iShares Bitcoin ETF led the charge in this surge of investment, contributing significantly to the record-breaking daily inflow.&nbsp;</p>
<p>Concurrently, the market price of Bitcoin soared to a new high, reflecting heightened investor confidence and optimism.&nbsp;</p>
<p>However, this influx of capital into Bitcoin ETFs has also marked a significant shift in market dynamics, with Grayscale’s GBTC losing its once-dominant market share.&nbsp;</p>
<p>As institutional investors continue to embrace Bitcoin and other cryptocurrencies, the landscape of the digital asset market is poised for further evolution and growth.</p>

BlackRock’s iShares Leads Charge: Bitcoin ETFs Hit $1 Billion Inflows!

Table of Contents

Cryptopolitan_News

Other articles published on Mar 13, 2024

Polkadot [DOT] to $20 or back to $9? Here’s what you should know

Bernstein Sees Bitcoin Reaching $150,000, 332 Billion SHIB Moved to Robinhood Address, Coinbase H...

Exploring the Multichain DeFi Marketplace: Unifi Protocol DAO Coin Acquisition

Record Inflows into Bitcoin ETFs Mark New Market Milestone

Cardano Founder Hints at Major Network Advancement: Details

Solana Poised to Break $150, Bonk Slides as Alternatives Gain Traction

Join our free newsletter for daily crypto updates!