Amidst a sluggish market, spot Bitcoin ETFs have emerged triumphant with a sudden surge as the crypto world rebounds. In a single day, March 26, they have amassed a whopping $418 million in inflows, signaling a promising comeback.
The ETF market is riding the wave of Bitcoin’s epic comeback! In just one day, a whopping $418 million has flooded into these products – the biggest surge since March 13.
Breaking records and leaving competitors in the dust, Fidelity Wise Origin Bitcoin (FBTC) has once again outshined BlackRock’s iShares Bitcoin Trust (IBIT) for the second consecutive day this week.
FBTC’s meteoric rise has captured the attention of investors, with a staggering $279.1 million pouring into the fund yesterday. Not to be outdone, IBIT also saw a significant influx of $162.2 million. The battle for Bitcoin dominance continues, with FBTC taking the lead in this thrilling race.
While the Grayscale Bitcoin Trust (GBTC) may have seen its usual outflow of $212.3 million, the Wisdom Tree Bitcoin Fund (BTCW) has remained steady. But that’s not all – other ETF products have reported some exciting positive flows as well.
And the Ark21Shares Bitcoin ETF (ARKB) has made a stunning comeback, with a surge of $73 million in inflows on March 26, after reporting a big fat zero just the day before. This impressive rebound marks its second-highest inflow for the entire month.
The newest numbers are in and they reveal a whopping $11.7 billion in cumulative inflows to our top investment products since the start of the year. That’s not all – these investments have now reached a collective $58.755 billion in assets under management.
And in a recent post by X, Bloomberg’s esteemed ETF analyst Eric Balchunas made a bold statement by including Bitcoin ETFs in a chart featuring the 30 most successful asset funds within their first 50 days of trading.
Exclusive: Bitcoin under pressure from GBTC, Bernstein plans expansion to $90,000 in 2024
Bitcoin (BTC) surges 12% after FOMC meeting despite $260 million ETF outflows
CoinGecko Says Nearly 50% of Investors Are Considering Solana
Four Bitcoin ETFs have made their way onto the list, catching the attention of financial expert Balchunas. He couldn’t help but express his amazement, singling out BlackRock’s IBIT and Fidelity’s FBTC as the top players in this game.
Even the seemingly modest Bitwise Bitcoin ETF (BITB), currently sitting at number 18 in terms of assets under management, has surpassed the world-renowned SPDR Gold Shares (GLD) fund.