Bitcoin ETF

Bitcoin

BlackRock

The U.S. Bitcoin ETF market witnessed a significant surge in inflows, with BlackRock’s IBIT and Fidelity’s FBTC leading the charge, attracting a combined total of nearly $870 million on March 13, 2024. Notably, amidst this influx, the broader U.S. Bitcoin ETF saw a substantial inflow of about $700 million, reflecting strong interest from the institutional players.
It’s worth noting that several market pundits have attributed the recent strong inflow into U.S. Spot Bitcoin ETF to the recent rally in Bitcoin price.
<h2 id="blackrock-fidelity-bitcoin-etf-dominate-inflows">BlackRock &amp; Fidelity Bitcoin ETF Dominate Inflows</h2>
The U.S. Spot Bitcoin ETF recorded an inflow of $684.7 million on Wednesday, March 13, according to Farside Investors’ <a rel="noopener noreferrer nofollow" href="https://farside.co.uk/?p=997" target="_blank">report</a>. Notably, the continuing robust inflow this week, especially amid Bitcoin’s unprecedented rally, suggests the strong interest of the Wall Street players toward the flagship crypto.
Meanwhile, <a href="https://coingape.com/blackrock-ibit-fidelity-fbtc-bitcoin-etf-rally-amid-record-1-05-bln-inflow/" target="_blank" rel="noopener noreferrer nofollow">BlackRock’s IBIT and Fidelity’s FBTC</a> emerged as frontrunners in the Bitcoin ETF race, with a combined influx nearing $870 million. Specifically, BlackRock’s IBIT received $586.5 million in inflows on Wednesday, while Fidelity’s FBTC recorded an impressive $281.5 million influx.
However, the influx into the <a href="https://coingape.com/vaneck-bitcoin-etf-surpasses-200m-investment-amid-fee-waivers/" target="_blank" rel="noopener noreferrer nofollow">VanEck Bitcoin ETF (HODL)</a> witnessed a decline, cooling to $16.5 million from $82.9 million in the prior day. However, VanEck had recorded a substantial inflow of over $200 million in the first two days of the week, following its decision to waive fees, from 0.20% to 0.0%, for the first $1.5 billion in assets until March 2025.
In contrast, the outflow in Grayscale’s Bitcoin ETF (GBTC) surged once again, totaling $276.5 million, following a decline to $79 million in the previous day’s outflow.
<figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://pbs.twimg.com/media/GIml_bUW8AARg2R?format=jpg&amp;name=medium" alt="U.S. Spot Bitcoin ETF Inflow" width="752" height="881">
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 Source: Farside Investors
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Also Read: <a href="https://coingape.com/qcp-capital-bitcoin-btc-profits-moving-to-large-cap-altcoins-like-sol-bnb-avax/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin (BTC) Profits Moving to Large Cap Altcoins Like SOL, BNB, AVAX</a>
<h2 id="bitcoin-price-rallies-amid-market-optimism">Bitcoin Price Rallies Amid Market Optimism</h2>
The U.S. Spot Bitcoin ETF also marked a significant milestone, recording its highest single-day net inflow since its launch on March 12. As CoinGape Media reported earlier, the <a href="https://coingape.com/bitcoin-price-spot-bitcoin-etf-saw-record-net-inflow-1-05-billion/" target="_blank" rel="noopener noreferrer nofollow">U.S. Spot Bitcoin ETFs</a> witnessed a net inflow of $1.05 billion on March 12, fueled by the second-highest volume day for the 10 Bitcoin ETFs, totaling $8.5 billion.
Meanwhile, these developments coincide with a new high in Bitcoin’s price, further underlining the growing interest of Wall Street players in the cryptocurrency market. Analysts attribute the surge in ETF inflows to the recent rally in BTC price, signaling heightened institutional interest in digital assets.
As of writing, the <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin price</a> was up 1.35% to $73,123.31, with its trading volume from yesterday falling 20.73% to $48.36 billion. Meanwhile, the crypto has touched a new high of $73,641.04 today, while touching a low of $71,720.18 in the last 24 hours.
<figure id="attachment_185778" aria-describedby="caption-attachment-185778" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class=" wp-image-185778" src="https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-Chart-14-03-24.png" alt="Bitcoin Price Chart" width="754" height="534" srcset="https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-Chart-14-03-24.png 1010w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-Chart-14-03-24-300x212.png 300w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-Chart-14-03-24-768x544.png 768w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-Chart-14-03-24-150x106.png 150w" sizes="(max-width: 754px) 100vw, 754px">
 <figcaption id="caption-attachment-185778" class="wp-caption-text">
 Bitcoin Price Chart
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Notably, over the last 30 days, the BTC price was up nearly 50% during writing, along with a weekly gain of around 11%.
Also Read: <a href="https://coingape.com/shiba-inu-shytoshi-kusama-reveals-the-shib-magazines-latest-edition-heres-everything/" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu- Shytoshi Kusama Reveals The Shib Magazine’s Latest Edition, Here’s Everything</a>
The post <a href="https://coingape.com/bitcoin-etf-blackrock-fidelity-saw-inflows-of-870m/" rel="noopener noreferrer nofollow">Bitcoin ETF: BlackRock &amp; Fidelity Saw Inflows Of $870M</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Bitcoin ETF: BlackRock & Fidelity Saw Inflows Of $870M

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