BlackRock and Fidelity Dominate Inflows in US Bitcoin ETF Market
BlackRock's IBIT and Fidelity's FBTC have attracted a combined total of nearly $870 million in inflows, leading the surge in the US Bitcoin ETF market on March 13, 2024. The broader US Bitcoin ETF saw a substantial inflow of about $700 million, reflecting strong interest from institutional players. Market pundits attribute the strong inflow to the recent rally in Bitcoin price. The VanEck Bitcoin ETF witnessed a decline in inflows, cooling to $16.5 million from $82.9 million in the prior day, while the outflow in Grayscale's Bitcoin ETF surged once again, totaling $276.5 million. The US Spot Bitcoin ETF recorded its highest single-day net inflow since its launch on March 12, with a net inflow of $1.05 billion on March 12.
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