Bitcoin ETFs Witness Explosive $520 Million Inflows, While BlackRock Breaks Records

In a resounding display of investor confidence, Bitcoin ETFs have experienced a remarkable surge in activity, with a staggering influx of $520 million reported within the past 24 hours. According to data released by BitMex Research, Bitcoin ETFs collectively amassed an impressive 9,510 BTC during this period, signaling a substantial uptick in interest from investors.

Leading the charge in this surge is Fidelity’s FBTC ETF, which saw a substantial addition of 4,450.6 BTC, amounting to a remarkable $243.3 million. Close on its heels is IBIT, the iShares Bitcoin Trust managed by BlackRock, securing an impressive 2,046.3 BTC valued at $111.8 million.

[1/3] Bitcoin ETF Flow – 26th Feb 2024

All data in. Strong day with $520m net inflow

Total net inflow since 11th Jan is $6,030m. pic.twitter.com/Iz4khAzEev

— BitMEX Research (@BitMEXResearch) February 27, 2024

Amid this development, Grayscale, another significant player in the field, recorded a decrease in holdings, cutting 409.3 BTC, equivalent to $22.4 million – marking the lowest result since the introduction of Bitcoin ETFs in the first 10 days of January.

BlackRock’s position strengthens

The dominance of iShares Bitcoin Trust on the ETF landscape remains, boasting a commanding 128,615.4 BTC valued at a staggering $7.213 billion. Fidelity’s Wise Origin Bitcoin Fund closely follows with 94,455.8 BTC, nearly $5.3 billion in value, while ARK Invest’s ARKB ETF rounds out the top three with 32,351.1 BTC in its portfolio, equivalent to $1.814 billion.

Moreover, BlackRock’s BTC ETF saw substantial trading volume, hitting $1.3 billion, making it the 11th most traded ETF and placing it among the top 25 for equity trading on the U.S. market. A total of nine ETFs ended the day with a combined volume of $2.4 billion, breaking records set since their launch in mid-January.

Source