Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

Bitcoin ETFs saw a total net inflow of $15.7 million on Monday, reversing a five-day streak of net outflows.&nbsp; 
According to data from <a href="https://sosovalue.xyz/assets/etf" target="_blank" rel="noopener">SoSo Value</a>, Fidelity’s Bitcoin ETF (FBTC) led the charge with an impressive net inflow of approximately $261 million in a single day. Following FBTC, BlackRock’s Bitcoin ETF (IBIT) also saw a substantial net inflow of about $35.4 million. The figures starkly contrast with the Grayscale Bitcoin Trust (GBTC), which experienced a significant net outflow of $350 million on the same day. 
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 <img loading="lazy" decoding="async" width="546" height="403" src="https://crypto.news/app/uploads/2024/03/achievements-2.png" alt="Bitcoin ETFs break outflow streak with $15.7m net inflow - 25" class="wp-image-14261213">
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 Total net inflow since launch | Source: <a href="https://sosovalue.xyz/assets/etf" target="_blank" rel="noopener">SoSo Value</a>
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</figure> 
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The turnaround comes after a challenging week for <a href="https://crypto.news/price/bitcoin/">Bitcoin</a> ETFs, which saw over $885 million in net outflows. The impact of the net inflow was visible on Bitcoin’s market performance, as the most prominent cryptocurrency reached $71,000 again yesterday. BTC’s daily trading volume also increased 26%.&nbsp; 
The success of U.S. spot Bitcoin ETFs is also influencing other countries to explore institutional exposure to Bitcoin. The London Stock Exchange <a href="https://crypto.news/london-stock-exchange-bitcoin-ethereum/">announced</a> plans to list Bitcoin and Ethereum exchange-traded notes (ETNs) starting May 28, with applications opening in April. 
The prospects of other crypto-based investment vehicles are also increasing, as Grayscale CLO predicted the launch of <a href="https://crypto.news/grayscale-clo-anticipates-sec-approval-for-spot-ether-etfs-by-may/">Ethereum ETFs</a> by May.&nbsp; 
 Read more: <a href="https://crypto.news/bitcoin-passes-70k-mark-and-1-38-trillion-dollar-market-cap/"> Bitcoin passes $70k mark and $1.38 trillion dollar market cap </a>

Bitcoin ETFs break outflow streak with $15.7m net inflow

crypto.news

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