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The volume of investments in BTC ETFs exceeded $1 billion in one day
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The volume of investments in BTC ETFs exceeded $1 billion in one day

Mar 13, 2024

SoSoValue data shows that on March 12, 2024, net inflows into Bitcoin (BTC) spot ETFs reached a historic daily record of $1.05 billion. This is the best result since the introduction of such products on the American market. The increase was 56% compared to the previous maximum of $673 million recorded on February 28.

According to BitMEX Research, this success is due to two factors. The IBIT fund from BlackRock received $849 million in one day, which was a record since the start of observations on January 11 this year. Also, the outflow of funds from GBTC amounted to only $79 million, which is less than 20% from the previous day.

FBTC from Fidelity raised $51.6 million, BITB from Bitwise — $24.6 million. ARKB (Ark Invest) and HODL (VanEck) funds raised 93 million and 82.9 million, respectively. Thus, the total net inflow since the launch of the BTC ETF in the United States amounted to $11.14 billion. In total, the funds manage bitcoins worth $58.77 billion, which is 4.21% of the total supply.

At the moment, IBIT manages bitcoins worth $15.24 billion, FBTC — $9.19 billion, ARKB and BITB manage assets worth $2.79 billion and $2.06 billion, respectively. The outflow of funds from GBTC from Grayscale since its transformation into an ETF amounted to $11.12 billion.

The daily trading volume of the BTC ETF was $8.67 billion.

As of March 13, 2024, the bitcoin exchange rate is $72,477, which is 1.23% higher than in the last 24 hours. The market capitalization reached $1.42 trillion, and the trading volume over the past 24 days amounted to $61.1 billion. Bitcoin's market share has reached 52.3%. The Fear & Greed Index is 92 out of 100, which indicates the high greed of traders.

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