Bitcoin

Spot

BlackRock

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/blackrock-and-fidelity-drive-new-wave-of-investments-in-bitcoin-etfs">BlackRock and Fidelity Drive New Wave of Investments in Bitcoin ETFs</a><br></p>
<p style="text-align: justify"> The US <a href="https://en.bitcoinhaber.net/the-views-of-three-analysts-on-bitcoin-and-the-role-of-cryptocurrencies-in-developing-markets">Bitcoin</a> Exchange-Traded Fund (ETF) marketplace has witnessed a significant uptick in activities as BlackRock and Fidelity’s ETF products garner massive inflows. As a testament to the growing enthusiasm in cryptocurrency-backed financial products, BlackRock’s IBIT and Fidelity’s FBTC ETFs together amassed close to $870 million on March 13, 2024. The overall US Bitcoin ETF sector also saw a substantial institutional investment boost totaling $700 million. </p> 
<h2 id="wall-street-s-escalating-interest-in-cryptocurrency">Wall Street’s Escalating Interest in Cryptocurrency</h2> 
<p style="text-align: justify"> According to Farside Investors’ latest findings, the US Spot Bitcoin ETF, on a single day, saw a staggering inflow of $684.7 million, highlighting Wall Street’s escalating interest in Bitcoin as the digital currency reaches new peaks. With the spotlight on ETFs, BlackRock’s IBIT led the charge, attracting $586.5 million, while Fidelity’s FBTC also experienced notable growth with a $281.5 million influx. </p> 
<p style="text-align: justify"> In contrast, the VanEck Bitcoin ETF, though starting strong with $82.9 million in inflows, experienced a drop to $16.5 million shortly after. VanEck’s move to eliminate management fees until March 2025 for a portfolio totaling $1.5 billion, catalyzed a rapid response from investors, with over $200 million pouring in at the start of the week. </p> 
<h2 id="bitcoin-s-price-momentum-coincides-with-etf-influx">Bitcoin’s Price Momentum Coincides with ETF Influx</h2> 
<p style="text-align: justify"> The robust inflows come during a period when Bitcoin’s price is surging towards record highs. Notably, the US Spot Bitcoin ETF achieved a historic milestone with the highest recorded single-day net inflow of $1.05 billion on March 12. Concurrently, Bitcoin’s price has edged closer to its all-time high, recently rising by 0.49% to $73,480, despite a 21% decline in 24-hour trading volume to $48 billion. </p> 
<p style="text-align: justify"> The market capitalization of Bitcoin remains well over $1.4 trillion, with the currency’s peak price reaching $73,658. This combination of positive price trajectory and robust ETF inflows signals a strengthening position for Bitcoin in the mainstream investment sphere.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/blackrock-and-fidelity-drive-new-wave-of-investments-in-bitcoin-etfs">BlackRock and Fidelity Drive New Wave of Investments in Bitcoin ETFs</a></h5>

BlackRock and Fidelity Drive New Wave of Investments in Bitcoin ETFs

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