Quick Take
Bitcoin Exchange-Traded Funds (ETFs) are witnessing a remarkable surge, setting a new record with the biggest day of inflows to date. Data from BitMEX shows a $673 million inflow in a single day, the equivalent of 11,122 Bitcoin.
The spike in inflows signifies an increased interest in Bitcoin-backed financial products. BlackRock’s IBIT saw its largest one-day inflow of $612 million, surpassing its previous record of $520 million from just a day earlier. The ETF IBIT now boasts $7.2 billion in total net flows, according to BitMEX.
Similarly, Fidelity’s FBTC reported a significant $245 million inflow, elevating their total net flows to $4.7 billion. Despite these positive figures, GBTC noted an accelerated outflow of $216 million, pushing their total outflows to an alarming $7.8 billion.
BitMEX reports Ark Invest ARKB also achieved a new milestone with a cumulative $1.6 billion inflows, further augmented by an additional inflow of $24 million.
Collectively, the net flows for all Bitcoin ETFs stand at $7.4 billion, equivalent to approximately 145,000 Bitcoin, according to BitMEX.
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.
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