Fresh capital is flowing back into US spot Bitcoin (BTC) exchange-traded funds (ETFs) following a five-day span of consecutive net outflows. <\/p>\n
Led by strong inflows into Blackrocks and Fidelitys funds, the ten recently approved spot Bitcoin ETFs saw a combined net inflow of $418 million on March 26, according to Farside Investors data. <\/p>\n
Fidelity's fund generated its largest daily inflow since March 13, notching $279.1 million on March 26 as the investment giant snapped up an additional 4,000 BTC. This marked the second consecutive day the fund has seen inflows exceeding $260 million. <\/p>\n
Additionally, BlackRocks fund attracted inflows of $162.2 million. However, its daily inflows remain low compared to inflows earlier this month which averaged over $300 million per day. <\/p>\n
Ark 21Shares Bitcoin ETF fund had its best day since March 12, notching $73.6 million in inflows while Invesco Galaxy, Franklin Templeton, and Valkyrie all saw more than $26 million worth of inflows across their respective funds. <\/p>\n
Meanwhile, Grayscales Bitcoin Trust (GBTC) continued to bleed notching a daily outflow of $212 million, however, it was not enough to outweigh the net inflows of its competitors. <\/p>\n
Since converting from a trust to an ETF on Jan. 11, Grayscale has shed a whopping 277,393 BTC worth roughly $19.5 billion at current prices. <\/p>\n
Related: Hashdexs new spot Bitcoin ETF to begin US trading on Wednesday <\/p>\n
In a March 26 post to X, Bloomberg senior ETF analyst Eric Balchunas noted the presence of Bitcoin ETFs in a chart of the largest 30 asset funds in their first 50 days of trading. <\/p>\n
Four Bitcoin ETFs made the list of global funds with BlackRocks IBIT and Fidelitys FBTC in a league of their own, he exclaimed. <\/p>\n
Balchunas noted that even the Bitwise Bitcoin ETF (BITB) currently the 18th largest Bitcoin ETF by assets under management was larger than the worlds largest SPDR Gold Shares (GLD) fund, he noted. <\/p>\n
Crypto asset management firm Hashdex claimed its place as the eleventh spot Bitcoin ETF issuer in the United States on March 26 afterannouncingthe conversion of its futures fund to a spot product which now trades under the ticker DEFI. <\/p>\n
Magazine: Bitcoin ETFs make Coinbase a honeypot for hackers and governments: Trezor CEO <\/p>\n
<\/p>\n
More here:<\/p>\n
Spot Bitcoin ETFs back in the black with $418M net inflows - Cointelegraph<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Fresh capital is flowing back into US spot Bitcoin (BTC) exchange-traded funds (ETFs) following a five-day span of consecutive net outflows. Continue reading