Technology

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

Posted on by Minakshi

Bitcoin ETFs Continue to Shine: Over ₹55,000 Crore Inflow in Just 12 Days

A Surge in Investor Confidence: Spot Bitcoin ETFs Attract Massive Investment

India’s investment landscape is witnessing a growing interest in digital assets, and the performance of Spot Bitcoin ETFs is a testament to this trend. These ETFs have collectively garnered over ₹55,000 Crore (approximately $6.6 billion) in just 12 trading days, signaling strong investor confidence in Bitcoin’s potential.

BlackRock’s IBIT Leads the Charge

Leading the inflow is BlackRock’s iShares Bitcoin Trust (IBIT), which saw a significant net addition of ₹4,131 Crore (approximately $496.75 million). IBIT is now the largest spot Bitcoin ETF, boasting assets worth a staggering ₹7,20,813 Crore (approximately $86.50 billion).

Mixed Performance Among Other ETFs

While IBIT is experiencing substantial growth, other Bitcoin ETFs are showing varied results. Fidelity’s Bitcoin ETF (FBTC) saw a minor outflow of ₹149 Crore (approximately $17.94 million). Grayscale’s Bitcoin Trust (GBTC), despite managing a substantial ₹1,78,591 Crore (approximately $21.45 billion) in assets, experienced a larger outflow of ₹677 Crore (approximately $81.29 million). ARK’s Bitcoin Strategy ETF (ARKB) also saw net outflows of ₹280 Crore (approximately $33.61 million).

Overall Positive Trend

Despite these fluctuations in individual ETF performance, the overall trend remains overwhelmingly positive. The continued net inflow into Spot Bitcoin ETFs highlights the growing acceptance of Bitcoin as a legitimate asset class among Indian investors and globally. This surge in investment further cements Bitcoin’s position in the evolving financial market.

Summary:

  • Spot Bitcoin ETFs have attracted over ₹55,000 Crore ($6.6 billion) in the last 12 days.
  • BlackRock’s IBIT leads inflows, becoming the largest spot Bitcoin ETF with ₹7,20,813 Crore ($86.50 billion) in assets.
  • Despite some outflows from other ETFs, the overall trend shows strong investor confidence in Bitcoin.
Key Takeaways:

  • The Indian investment community is increasingly embracing digital assets like Bitcoin.
  • Spot Bitcoin ETFs provide a regulated and accessible avenue for investors to gain exposure to Bitcoin.
  • BlackRock’s success underscores the importance of brand recognition and trust in the ETF market.
  • The mixed performance of different ETFs highlights the need for investors to conduct thorough research before investing.
  • Continued inflows into Bitcoin ETFs suggest a growing mainstream acceptance of cryptocurrency as a legitimate asset class.