Bitcoin ETF

Bitcoin

BlackRock

<ul>
 <li><strong>Bitcoin hits $52K, surges 5%, sparking community joy and investor optimism.</strong></li>
 <li><strong>BlackRock’s IBIT leads ETF surge with record-breaking inflows.</strong></li>
</ul>
<p>Bitcoin soared above $52,000, marking an unexpected high after two years with a 5% surge over the past 24 hours. This milestone has ignited jubilation within the cryptocurrency community, fueling anticipation and fervor for what lies ahead. Adding to it, there is a notable surge in net inflows into Bitcoin exchange-traded funds (ETFs)– a topic that has dominated discussions throughout the year.</p>
<p>The latest data reveals a remarkable influx of 12.8K BTC into Bitcoin ETFs, propelling the total holdings to a new all-time high of 704.4K BTC. Among the key players, BlackRock leads the charge with a significant addition of 10K <a href="https://thenewscrypto.com/why-is-bitcoin-btc-pumping/" rel="noopener noreferrer nofollow">BTC</a>, followed by Fidelity, contributing 3.3K BTC. However, Grayscale’s Bitcoin Trust (GBTC) witnessed a slight downturn, shedding 1.5K BTC amid a backdrop of shifting market dynamics.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/bCz4Y0aOLz6zROn58ixbplsP9BmEJoscv21E-RTlLEPJ9_JzBcM1WZjhpaJ5XkPf5dhcQ8DUFTvicP6HbJYZ_r7uHf0pRZxymFEYJnS14WiHjWA6p5GMmx4lczw7wNvRa2rbw0XavqFTUIIEk3bFYNc" alt="">
 </figure>
</div>
<p>Moreover, BlackRock’s iShares Bitcoin Trust (IBIT) showcased its dominance with a record-breaking net inflow day. It amassed $493 million in a single trading session. This surge catapulted IBIT’s assets under management to nearly $5.2 billion. Notably, only 7% of all ETFs match the scale of the BlackRock fund, underscoring its significance within the investment landscape.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/8LoOm3_oN3Gx5OZPy2bILWZt3EOFH5qlO7cLVo_DRQjAJFKz9yximz0Bd9dAYds5aYIvZvfOFqsRulzM8Cq08kXCOM0a2zI7R2T5udLXgB5W_LOWXxmCzZhj3gyYkWDGfzoSYf14CLsZIKN_AsIjOR8" alt="">
  <figcaption class="wp-element-caption">
   BTC ETF Inflows Chart, Source : FARSIDE Investors
  </figcaption>
 </figure>
</div>
<p>Despite <a href="https://etfs.grayscale.com/gbtc" rel="noopener noreferrer nofollow">GBTC</a>‘s decline, the emergence of nine new US spot bitcoin ETFs has more than compensated for the outflows, with total net inflows nearing $3.8 billion. This robust performance underscores growing investor confidence and appetite for cryptocurrency-based investment products.</p>
<h3 class="wp-block-heading" id="h-what-s-ahead">What’s Ahead?</h3>
<p>Looking ahead, industry experts anticipate further momentum as Bitcoin’s price continues its upward trajectory. It is hovering around $52,000 at the time of reporting. With the next Bitcoin halving slated for April, historical precedents suggest potential catalysts for further market bullishness.</p>
<p>Meanwhile, the latest surge in ETF inflows, coupled with bullish market sentiment and technical analysis, has some traders eyeing a short-term target of $64,000. Amidst these developments, the cryptocurrency market appears poised for continued growth. And expansion, with institutional investors playing an increasingly pivotal role.</p>

Bitcoin ETF Inflows Reach Record High: Will It Propel BTC $55K?

Table of Contents

TheNewsCrypto

Outros artigos publicados em 15 de fev. de 2024

Key Reasons Why Bitcoin Price Is Pumping, Ripple CEO Celebrates Company's Epic Wins, Shibarium St...

Exploring the Recent Surge in PEPE Cryptocurrency Price

MicroStrategy's Bitcoin holdings surpass $10 bln, profit tops $4 bln

CKB surges 64% in 24 hours, traders bet on price drop

Chainlink and Solana Gear Up for Potential Breakouts As Crypto Investors Watch Closely

Bullish? Bitcoin on exchanges drops to lowest in 6 years

Join our free newsletter for daily crypto updates!