Bitcoin ETFs experienced significant inflows yesterday, with total net inflows reaching 1.114 billion as per Wu Blockchain. This surge reflects strong investor confidence in the cryptocurrency market as Bitcoin (BTC) continues its bullish trend.
Notably, BlackRock’s IBIT ETF led the inflows, recording a substantial daily net inflow of $756 million and achieving a record daily turnover of $4.65 billion. BlackRock’s dominance indicates investors’ trust in traditional financial giants as they enter the crypto market.
Bitcoin spot ETFs had a total net inflow of $1.114 billion yesterday, BlackRock ETF IBIT’s daily turnover reached a record high of $4.65 billion, BlackRock ETF IBIT’s daily net inflow was $756 million, and Fidelity ETF FBTC’s daily net inflow was $135 million.…
— Wu Blockchain (@WuBlockchain) November 12, 2024
Fidelity and Other ETFs Also Benefit
Other ETFs saw impressive inflows as well. Fidelity’s FBTC ETF recorded a daily net inflow of $135 million, attracting both retail and institutional investors. Cumulative total net inflows for all Bitcoin spot ETFs have reached $26.90 billion as of the latest data. This indicates sustained demand for these products since their launch.
Bitcoin Spot ETFs Hold Significant Market Share
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At press time, Bitcoin spot ETFs’ total net assets reached $90.60 billion, which represents 5.27% of BTC’s total market capitalization. This surge highlights the growing importance of regulated crypto investment vehicles in traditional markets, providing both security and accessibility for mainstream investors.
Individual ETF Performances
In terms of individual ETF standings, BlackRock’s IBIT ETF leads with net assets of $39.92 billion followed by Grayscale’s GBTC ETF at $19.12 billion, and Fidelity’s FBTC ETF at $16.73 billion. Daily percentage gains have been strong, with IBIT up 13.46%, GBTC up 13.38%, and FBTC up 13.34%, indicating favorable market conditions and a strong investor response.
Institutionalization of Crypto Assets on the Rise
The recent surge in Bitcoin spot ETF inflows may signal the beginning of a larger trend in institutional adoption of crypto assets. As Bitcoin spot ETFs continue to attract interest, their influence on BTC’s price and their role in mainstreaming crypto assets could play an important role in market’s future.
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