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>
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 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/bCz4Y0aOLz6zROn58ixbplsP9BmEJoscv21E-RTlLEPJ9_JzBcM1WZjhpaJ5XkPf5dhcQ8DUFTvicP6HbJYZ_r7uHf0pRZxymFEYJnS14WiHjWA6p5GMmx4lczw7wNvRa2rbw0XavqFTUIIEk3bFYNc" alt="">
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<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>
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 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/8LoOm3_oN3Gx5OZPy2bILWZt3EOFH5qlO7cLVo_DRQjAJFKz9yximz0Bd9dAYds5aYIvZvfOFqsRulzM8Cq08kXCOM0a2zI7R2T5udLXgB5W_LOWXxmCzZhj3gyYkWDGfzoSYf14CLsZIKN_AsIjOR8" alt="">
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   BTC ETF Inflows Chart, Source : FARSIDE Investors
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<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?

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TheNewsCrypto

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