Franklin

Bitcoin ETF

Bitcoin

Fresh capital is flowing back into United States spot Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) exchange-traded funds (ETFs) following a five-day span of consecutive net outflows.
Led by strong inflows into BlackRock’s and Fidelity’s funds, the 10 recently approved spot Bitcoin ETFs saw a combined net inflow of $418 million on March 26, according to Farside Investors <a href="https://farside.co.uk/?p=997" target="_blank" rel="noopener nofollow">data</a>.
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 <img src="https://s3.cointelegraph.com/uploads/2024-03/1b090629-c8c4-4c95-93c6-901ac80088ff.jpg" alt="" title="">
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 Bitcoin ETF flows (USD). Source: Farside Investors
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Fidelity’s fund generated its largest daily inflow since March 13, notching $279.1 million on March 26 — as the investment giant snapped up an additional 4,000 BTC. This marked the second consecutive day the fund has seen inflows exceeding $260 million. 
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-03/dd4737f8-f27e-4643-8f7c-9a6c292b3bd2.jpg" alt="" title="">
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 Fidelity FBTC flows. Source: HODL15Capital
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Additionally, BlackRock’s fund attracted inflows of $162.2 million. However, its daily inflows remain low compared to inflows earlier this month, which averaged over $300 million per day. 
Ark 21Shares Bitcoin ETF fund had its best day since March 12, notching $73.6 million in inflows, while Invesco Galaxy, Franklin Templeton and Valkyrie all saw more than $26 million worth of inflows across their respective funds. 
Meanwhile, Grayscale’s Bitcoin Trust (GBTC) continued to bleed — notching a daily outflow of $212 million; however, it was not enough to outweigh the net inflows of its competitors. 
Since converting from a trust to an ETF on Jan. 11, Grayscale has shed a whopping 277,393 BTC worth roughly $19.5 billion at current prices. 
Related: <a href="https://cointelegraph.com/news/hashdex-11th-approved-spot-bitcoin-etf-united-states">Hashdex’s new spot Bitcoin ETF to begin US trading on Wednesday</a>
In a March 26 <a href="https://twitter.com/EricBalchunas/status/1772646326125130034" target="_blank" rel="noopener nofollow">post</a> to X, Bloomberg senior ETF analyst Eric Balchunas noted the presence of Bitcoin ETFs in a chart of the largest 30 asset funds in their first 50 days of trading.
Four Bitcoin ETFs made the list of global funds with BlackRock’s IBIT and Fidelity’s FBTC “in a league of their own,” he exclaimed. 
Balchunas noted that even the Bitwise Bitcoin ETF (BITB) — currently the 18th-largest Bitcoin ETF by assets under management — was larger than the world’s largest SPDR Gold Shares (GLD) fund. 
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 <img src="https://s3.cointelegraph.com/uploads/2024-03/5c003a6c-42d6-4a7b-9685-158514d30e1a.jpg" alt="" title="">
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 Source: <a href="https://twitter.com/EricBalchunas/status/1772646326125130034" target="_blank" rel="noopener nofollow">Eric Balchunas</a>
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Crypto asset management firm Hashdex claimed its place as the 11th spot Bitcoin ETF issuer in the U.S. on March 26 after&nbsp;<a href="https://cointelegraph.com/news/hashdex-11th-approved-spot-bitcoin-etf-united-states">announcing</a>&nbsp;the conversion of its futures fund to a spot product, which now trades under the ticker DEFI.&nbsp;
Magazine: <a href="https://cointelegraph.com/magazine/bitcoin-etf-coinbase-honeypot-hackers-government-trezor-ceo/">Bitcoin ETFs make Coinbase a ‘honeypot’ for hackers and governments: Trezor CEO</a>

Spot Bitcoin ETFs regain traction, posting $418M net inflows

Cointelegraph

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