Bitcoin

Million

Grayscale Bitcoin Trust

BlackRock

Data from SoSoValue has revealed a worrying trend in Bitcoin Exchange Traded Funds (ETFs). March 20 marks the third consecutive day of net outflows. According to data, a total net outflow of $261 million was recorded on March 20 alone.
<h2 id="bitcoin-etfs-witness-consecutive-net-outflow-days">Bitcoin ETFs Witness Consecutive Net Outflow Days</h2>
Leading the way in terms of outflows, Grayscale Bitcoin Trust (GBTC) experienced a significant single-day net outflow of $386 million. This significant move contributed to GBTC's total historical net outflow, which now stands at a staggering $13.27 billion.
In contrast, amid the outflow trend, BlackRock ETF IBIT emerged as an outlier and witnessed a single-day net inflow of $49.28 million on March 20. Additionally, there was an inflow of 12.9 Million dollars on the Fidelity side.
Related News: <a href="https://en.bitcoinsistemi.com/a16z-executive-speaks-about-secs-attack-against-ethereum-eth-cannot-be-a-security/" target="_blank" rel="noopener noreferrer nofollow">a16z Executive Speaks About SEC's Attack Against Ethereum: "ETH Cannot Be a Security"</a>
This influx of funds increased IBIT's total historical net inflow to $13.09 billion, indicating resilient demand for exposure to Bitcoin through ETFs.
Back-to-back net outflows in Bitcoin ETFs underscore a period of uncertainty and volatility in the cryptocurrency market. Investors appear to be reevaluating their positions amid fluctuating prices and regulatory concerns.
While GBTC continues to experience significant outflows, flows into IBIT show that investors are still willing to buy into Bitcoin through alternative means.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/blackrock-and-fidelity-make-acquisitions-as-grayscale-disposes-bitcoin-etfs-here-are-the-latest-trading-amounts/" rel="noopener noreferrer nofollow">Blackrock and Fidelity Make Acquisitions as Grayscale Disposes Bitcoin ETFs! Here are the Latest Trading Amounts!</a>

Blackrock and Fidelity Make Acquisitions as Grayscale Disposes Bitcoin ETFs! Here are the Latest Trading Amounts!

Table of Contents

Bitcoin Sistemi EN

Other articles published on Mar 21, 2024

TokenPocket (TPT) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Crypto Market Recovery Underway as Bitcoin Re-Enters Price Discovery Phase

North Korea Garners Half of Foreign Income from Cyber Heists Targeting Crypto Firms

Crypto Democracy in Action: KuCoin Introduces Voting System for Token Listing

VeChain Soars Amid Supply Chain Revolution & Leading Investors Pay Attention to Render Competitor

AdEx (ADX) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Join our free newsletter for daily crypto updates!