Bitcoin ETF Issuers Hold 175K BTC Despite Grayscale’s Strong Emergence
The US Spot Bitcoin ETF market remains a hot spot for investors, accumulating a staggering amount of around 175,000 BTC since its launch, despite Grayscale’s heavy outflow. Bitcoin ETFs also continued their strong momentum this week, with Fidelity FBTC recording its highest flow since launch on March 7. But recent data also shows BlackRock flows have cooled this week, sparking curiosity among investors.
US Bitcoin ETF accumulates 175 thousand BTC
Since the launch of the US Spot Bitcoin ETF, investor interest has increased rapidly, with total inflows reaching $9.36 billion, or 174,881.2 BTC. On March 7 alone, these ETFs accumulated 7,018.2 BTC, underlining the growing demand for Bitcoin investment vehicles.
Meanwhile, Fidelity’s FBTC led the pack, attracting a massive inflow of $473.4 million, or 7,030.2 BTC, followed by BlackRock’s $244.2 million inflow, or 3,627.3 BTC, on March 7. came. However, BlackRock’s IBIT experienced a cooling trend while Fidelity’s inflow increased.
In contrast, Grayscale’s GBTC faced significant outflows, recording $374.8 million on the same day. Since the launch of US Spot BTC ETFs in January 2024, Grayscale’s total outflow has reached $10.25 billion, or 217,844.7 BTC.
Source: BitMEX Research, X
Commenting on this increase, CoinShares Head of Research James Butterfill underlined the relentless momentum and said: “US Bitcoin ETF Issuers show no signs of slowing in inflows.” This sentiment reflects investors’ bullish outlook on Spot Bitcoin ETFs and the broader digital asset market.
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Global Digital Asset Industry Witnesses Remarkable Growth
Bitcoin ETF has increased investors’ confidence in the digital asset sector. Beyond BTC ETFs in particular, the global digital asset sector is experiencing a notable increase in investments.
James Butterfill shared insights that revealed that as of March 7, total fund flows in the Digital Asset sector exceeded $10 billion (YTD) year-to-date, approaching the $10.6 billion observed in 2021.
Source: James Butterfill, X
The United States is emerging as a key player in this increase, with a significant inflow of $10.45 billion in 2024, up from just $4.64 billion in 2021. This exponential growth underscores investors’ growing confidence in digital assets and their long-term value potential. discretion.
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A seasoned professional with 3 years of experience in the financial market, Rupam has honed his skills as a meticulous research analyst and insightful journalist. She enjoys exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam’s expertise goes beyond traditional boundaries. His contributions include breaking news, examining AI-related developments, providing real-time crypto market updates, and providing insightful economic news. Rupam’s journey is marked by his passion to demystify the intricacies of finance and deliver impactful stories that will resonate with diverse audiences.
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