Technology

Spot Bitcoin ETFs gain $363M, extend 12-day inflow streak to $6.6B

Posted on by Minakshi






Bitcoin ETFs Attract Massive Inflows, Fueling Market Optimism


Bitcoin ETFs Continue to Shine: Investors Pour In ₹3,000 Crore in a Single Day!

The buzz around Bitcoin continues to intensify, with Spot Bitcoin Exchange Traded Funds (ETFs) witnessing a surge in popularity. These ETFs have collectively attracted a whopping $363 million (approximately ₹3,000 Crore) in a single day, marking a significant vote of confidence in the digital asset.

Uninterrupted Inflows: A 12-Day Winning Streak

This impressive inflow extends the winning streak to 12 consecutive days. Over this period, these Bitcoin ETFs have accumulated an astounding $6.6 billion (approximately ₹55,000 Crore), demonstrating the growing appetite among investors for regulated and accessible exposure to Bitcoin.

BlackRock’s IBIT Leads the Charge

Among the various Bitcoin ETFs, BlackRock’s iShares Bitcoin Trust (IBIT) is proving to be a major draw. IBIT alone garnered a net inflow of $496.75 million. It now manages over $86.5 billion in assets, solidifying its position as the leading spot Bitcoin ETF.

Mixed Performance Across the Board

While IBIT is enjoying massive success, other Bitcoin ETFs are experiencing mixed fortunes.

  • Fidelity’s Bitcoin ETF (FBTC) saw a slight outflow of $17.94 million.
  • Grayscale’s Bitcoin Trust (GBTC), despite managing a considerable $21.45 billion in assets, witnessed a larger outflow of $81.29 million.
  • Ark’s Bitcoin Strategy ETF (ARKB) also recorded a net outflow, shedding $33.61 million.

What Does This Mean for the Indian Investor?

The rising popularity of Bitcoin ETFs reflects a global trend of increasing acceptance and adoption of cryptocurrencies. As awareness grows in India, it’s crucial for investors to understand the nuances and risks associated with investing in Bitcoin and related products. Investing in such asset classes carries risks and investors are advised to consult their financial advisors before making any investment decisions.

Summary:

  • Spot Bitcoin ETFs gain $363 million, marking a 12-day inflow streak.
  • BlackRock’s IBIT ETF leads the inflows, becoming the largest spot Bitcoin ETF.
  • Other ETFs experience mixed performance with some seeing outflows.
Key Takeaways:

  • Significant investor interest in Bitcoin is driving inflows into Spot Bitcoin ETFs.
  • BlackRock’s IBIT is emerging as a dominant player in the Bitcoin ETF market.
  • While the overall trend is positive, not all Bitcoin ETFs are performing equally.
  • Indian investors should conduct thorough research and seek financial advice before investing in crypto-related products.