Bitcoin ETF

Bitcoin

Spot

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
The price of Bitcoin (BTC) witnessed a remarkable surge recently. It went above the crucial $63,000 mark after weeks of consolidation around the $55,000 to $57,000 range. Amid this bullish momentum on the crypto market, Bitcoin based ETFs have also seen a massive surge in inflows. As per SoSoValue, Bitcoin spot ETFs&nbsp;<a href="https://sosovalue.com/assets/etf/us-btc-spot" rel="noopener noreferrer nofollow">witnessed</a> a total net inflow of $158 million on Sept. 19.
Ark Invest and 21Shares' ETF ARKB dominated the market with a massive single-day net inflow of around $81 million, while Fidelity ETF FBTC secured a single-day net inflow of approximately $49 million. On the other hand, Bitwise’s ETF BITB saw a single-day net inflow of $10.36 million, followed by Grayscale’s ETF BTC securing a single-day net inflow of $9.54 million.
<h2 dir="ltr" id="blackrock-etf-slows-down">BlackRock ETF slows down</h2>
However, it should be noted that&nbsp;<a href="https://u.today/blackrock-exec-makes-bullish-bitcoin-prediction" rel="noopener noreferrer nofollow">BlackRock</a>’s IBIT had a neutral day, as there were no inflows or outflows for the ETF. This is a surprising development as BlackRock’s Bitcoin ETF has been one of the most successful ETFs on the market. In fact, it still has the highest net inflows overall compared to the rest of the Bitcoin Spot ETFs.
As of Sept. 19, IBIT has a cumulative net inflow of $22.67 billion. Compared to it, Grayscale’s GBTC has a cumulative net inflow of $14.02 billion, while Fidelity’s FBTC has a cumulative net inflow of $11.20 billion. These figures show that despite its stagnant performance recently, the BlackRock Bitcoin ETF remains the biggest ETF on the market today.
Meanwhile, the cumulative total net inflow of the ETF market is currently at $17.60 billion. The total net assets are currently at a whopping $57.82 billion, which is surprisingly 4.64% of the total&nbsp;<a href="https://u.today/bitcoin-btc-on-verge-of-lower-high-reversal-at-63000-whats-happening" rel="noopener noreferrer nofollow">Bitcoin market</a> cap. This shows that these ETFs have started to overcome the market despite their recent launch.

Bitcoin Spot ETFs Explode With $158 Million Inflows: Details

Table of Contents

U_Today

Other articles published on Sep 20, 2024

Ebi.xyz Becomes the First Perpetual DEX to Integrated with HOT Wallet on Telegram

Kroma's Game Circle Union- Earn Ore and secure your share of the $KRO Airdrop!

Unpacking the Impact of Spot Bitcoin ETFs On the Crypto Market Since January 2024

5 Cryptos Under $0.10 with 2,000% Growth Potential – Add to Your Portfolio Now!

Bybit Leads the Way with Successful Catizen ($CATI) Listing and Airdrop Distribution

Bitgert’s Long-Term Price Forecast: How It Could Dominate the Market by 2026

Join our free newsletter for daily crypto updates!