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US Bitcoin ETFs Experience Inflows
US spot Bitcoin exchange-traded funds (ETFs) have experienced a resurgence of fresh capital, reversing a streak of consecutive net outflows over the past week. According to data from Farside Investors, the ten approved spot Bitcoin ETFs saw a combined net inflow of $418 million on March 26, with BlackRock’s and Fidelity’s funds leading the way.
Fidelity and BlackRock Lead the Inflows
- Fidelity’s fund recorded its largest daily inflow since March 13, attracting $279.1 million on March 26.
- BlackRock’s fund saw inflows of $162.2 million, although its daily inflows remained lower compared to earlier in the month.
Other Funds Register Inflows
The Ark 21Shares Bitcoin ETF fund had its best day since March 12, with $73.6 million in inflows. Invesco Galaxy, Franklin Templeton, and Valkyrie also observed more than $26 million worth of inflows across their respective funds.
Grayscale Sees Outflows
Grayscale’s Bitcoin Trust (GBTC) continued to experience outflows, recording a daily outflow of $212 million. However, the net inflows from its competitors outweighed GBTC’s outflows.
Bitcoin Price Maintains $70,000 Level
The price of Bitcoin has maintained the $70,000 mark amid the news that the London Stock Exchange plans to introduce Exchange-Traded Notes (ETNs) for BTC and ETH in May.
Asset Managers Continue to Add Bitcoin Allocations
In a recent note, crypto asset trading firm QCP Capital revealed that asset managers continue to add Bitcoin allocations as a “portfolio diversifier.” Requests for structured products such as Accumulators and FCNs have flooded in, revealing a strong appetite for diversifying investment portfolios with BTC.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
