BlackRock (IBIT) and Fidelity (FBTC) Bitcoin ETF Soars Amid Record $1.05 Billion Venture
In today’s pre-market trading, BlackRock’s IBIT and Fidelity Wise’s FBTC, both leading Spot Bitcoin ETFs, enjoyed a notable rally following a strong inflow of funds on Tuesday. This increase has also been mirrored by its main competitors, including Grayscale’s GBTC, VanEck’s HODL, and Valkyrie’s BRRR.
Increase in BlackRock and Fidelity BTC ETFs
BlackRock’s iShares Bitcoin ETF (IBIT) rose 2.60% to $41.79 in pre-market trading on Wednesday, March 13, according to Yahoo Finance data. This rebound comes after Tuesday’s close at $40.73, reflecting a 0.95% decline. Additionally, the resurgence was mainly attributed to record-high inflows of $849 million.
Meanwhile, Fidelity Wise’s FBTC rose 2.53% to $64.08 in pre-market trading. Additionally, Grayscale’s GBTC rose 2.56% to $65.30 and recovered after a significant drop on Tuesday, closing down 1.01% at $63.67.
Ark 21Shares Bitcoin ETF (ARKB) gained 2.55% to $73.22. Meanwhile, VanEck’s HODL rose 2.17% to $82.71. Valkyrie’s BRRR also rose 1.38% to $20.55. Invesco Galaxy’s BTCO settled at $73.30, up 2.60%.
Franklin Templeton’s EZBC gained a significant 2.34% to $42.45. Additionally, Hashdex’s DEFI increased by 2.67% to $84.74. Earlier, DEFI fell 1.10% to $82.54 on Tuesday.
Also Read: VanEck Bitcoin ETF Surpasses $200 Million in Investments Amid Fee Waivers
Spot Bitcoin ETFs Point to Record-Breaking Inflows of $1.05 Billion
On March 12, data from SoSoValue revealed a significant net inflow into Spot BTC ETFs of $1.05 billion. This increase in inflows coincided with the second-highest volume day for the 10 Bitcoin ETFs and marked the best performance in the past five weeks, with $8.5 billion in total transactions.
BlackRock’s iShares Bitcoin ETF experienced a record inflow of $849 million, surpassing the previous highest inflow. This influx pushed BlackRock’s net flow to over $11.44 billion, while its asset holdings rose to $14.5 billion.
Meanwhile, Fidelity Bitcoin ETF and Ark 21Shares (ARKB) BTC ETF received inflows of $51.6 million and $93 million, respectively. Other Spot BTC ETFs, including Bitwise’s BITB, have seen relatively lower inflows. VanEck Bitcoin ETF experienced an inflow of $82.9 million, partly attributed to its 0% fee strategy amid intense competition.
Additionally, Grayscale’s GBTC recorded another $79 million outflow. The decline in outputs is attributed to Genesis’ decline in GBTC sales nearing its end. Cryptocurrency provider Genesis has received bankruptcy court approval to sell 35 million GBTC shares worth $1.3 billion. To date, net outflow from GBTC has exceeded $11.12 billion.
Also Read: Bitcoin ETF: SEC Announces First Trust’s Application ‘Abandoned’
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