Bitcoin ETFs experience a surge of $15.7 million in net inflow on Monday, breaking a five-day trend of net outflows.
Breaking records in the world of cryptocurrency, Fidelity’s Bitcoin ETF (FBTC) has made a grand entrance with a staggering $261 million net inflow in just one day, as reported by SoSo Value.
Not far behind, BlackRock’s Bitcoin ETF (IBIT) also made a strong impact with a notable net inflow of $35.4 million. However, the tables turned for the popular Grayscale Bitcoin Trust (GBTC), which faced a significant net outflow of $350 million on the same day.
Amidst a tumultuous week for Bitcoin ETFs, the tides have finally turned with a surge of over $885 million in net inflows. This influx has sparked a remarkable revival in Bitcoin’s market, propelling the leading cryptocurrency to reclaim a staggering $71,000 yesterday. And as if that wasn’t enough, BTC’s daily trading volume has skyrocketed by a whopping 26%.
The rise of U.S. Bitcoin ETFs has sparked a global frenzy, as other countries scramble to tap into the potential of institutional Bitcoin investments.
The London Stock Exchange has joined the race, revealing its plans to list Bitcoin and Ethereum exchange-traded notes (ETNs) on May 28th, with applications opening in April.
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The excitement doesn’t end there, as experts predict the launch of Ethereum ETFs by May, opening up even more possibilities for crypto-based investment vehicles.