***The weeks-long declines in Bitcoin and altcoins also affected ETFs. Record outflows were seen in spot Bitcoin and Ethereum ETFs.
However, for the first time yesterday, in the face of the ongoing rallies for weeks, Bitcoin ETFs recorded a total net inflow of 275 million dollars.
Since February 4, this has been the largest daily influx, with no net outflows in any of the twelve ETFs.
In the last five weeks of the uptrend in Spot Bitcoin ETFs, while there has been a net outflow exceeding 5 billion dollars, yesterday's inflows were interpreted as a sign of a change in market sentiment.
BTC Markets analyst Rachael Lucas noted that this positive change is related to the stability in the price of Bitcoin, increasing interest and confidence of institutional investors.
Lucas said factors such as the rebalancing of portfolios at the end of the quarter and increasing demand for ETFs with low commission fees contributed to ETF inflows.
When looking at ETF inflows, Fidelity FBTC led with net inflows of $127.3 million, while Ark and 21Shares ARKB saw inflows of $88.5 million.
The largest spot Bitcoin ETF, BlackRock IBIT, attracted a $42.3 million inflow, while Grayscale Mini Bitcoin Trust BTC and and Bitwise BITB also saw small inflows.
In the face of these entries, BTCO, EZBC, BRRR, HODL, BTCW, and GBTC experienced a net flow of 0.
In the face of the positive change in Bitcoin, spot Ethereum ETFs saw a total net outflow of 7.28 million dollars and continued their nine-day net outflow series.
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Expected Signal Comes From Spot Bitcoin ETFs! A First Happened After Six Weeks!
***The weeks-long declines in Bitcoin and altcoins also affected ETFs. Record outflows were seen in spot Bitcoin and Ethereum ETFs.
However, for the first time yesterday, in the face of the ongoing rallies for weeks, Bitcoin ETFs recorded a total net inflow of 275 million dollars.
Since February 4, this has been the largest daily influx, with no net outflows in any of the twelve ETFs.
In the last five weeks of the uptrend in Spot Bitcoin ETFs, while there has been a net outflow exceeding 5 billion dollars, yesterday's inflows were interpreted as a sign of a change in market sentiment.
BTC Markets analyst Rachael Lucas noted that this positive change is related to the stability in the price of Bitcoin, increasing interest and confidence of institutional investors.
Lucas said factors such as the rebalancing of portfolios at the end of the quarter and increasing demand for ETFs with low commission fees contributed to ETF inflows.
When looking at ETF inflows, Fidelity FBTC led with net inflows of $127.3 million, while Ark and 21Shares ARKB saw inflows of $88.5 million.
The largest spot Bitcoin ETF, BlackRock IBIT, attracted a $42.3 million inflow, while Grayscale Mini Bitcoin Trust BTC and and Bitwise BITB also saw small inflows.
In the face of these entries, BTCO, EZBC, BRRR, HODL, BTCW, and GBTC experienced a net flow of 0.
In the face of the positive change in Bitcoin, spot Ethereum ETFs saw a total net outflow of 7.28 million dollars and continued their nine-day net outflow series.