Bitcoin ETF Inflows Soar, Outdoing Initial Month of Trade
In the past few days, an impressive surge has been observed in Bitcoin ETF Inflows, accumulating over $2.2 billion. This amount exceeds the total accumulated during the initial month of trading. This sudden influx is seen by market observers as a major propellant for Bitcoin’s rally, which has driven its price past the $52,000 threshold. Notably, ten spot Bitcoin ETFs have experienced increased interest, drawing in 43,300 Bitcoin within a mere four days. This is significant as it previously took these funds 20 days to attract 42,000 Bitcoin post-approval. BlackRock’s iShares accounted for the majority of these inflows, 82% or $518 million, and also surpassed $5 billion in managed assets during this period. Four Bitcoin ETFs have now exceeded $1 billion in managed assets, with BlackRock’s iShares Bitcoin fund, Fidelity’s Wise Origin, and Ark21 Shares fund leading. The Bitcoin ETF Inflows have markedly influenced the BTC market, thrusting Bitcoin past the $52,000 mark for the first time since December 2021, and aiding it in reaching a $1 trillion market capitalization.
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