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Bitcoin ETFs Experience 283% Surge in Major Metric

Apr 4, 2024

Cover image via U.Today

Recent developments in the cryptocurrency investment sector have shown a substantial increase in Bitcoin ETFs, with a net inflow surging by 283% within a 24-hour period. Data from BitMex Research reveals this significant rise in investor participation, with a total net inflow of $113 million into Bitcoin spot ETFs on the previous day.

Among the various Bitcoin ETFs, Fidelity's FBTC received the highest daily net inflow of approximately $116 million, closely followed by BlackRock's IBIT with an inflow of around $42.03 million. On the other hand, Grayscale's GBTC experienced a net outflow of $75.14 million, leading to a historical net outflow of $15.23 billion.

This surge in investor activity comes shortly after reports of a $40.2 million net inflow into Bitcoin ETFs the day before.

The growing interest from major financial institutions entering this market highlights the increasing institutionalization of cryptocurrency investments. Reports suggest that Morgan Stanley and UBS are finalizing their Bitcoin ETF solutions, expanding investment opportunities in the cryptocurrency space. Additionally, Goldman Sachs anticipates a sustained increase in demand for U.S. spot Bitcoin ETFs, with several funds ready to meet client needs.

Since the introduction of Bitcoin ETFs in January 2024, the leading cryptocurrency has seen a significant price surge of 77%, reaching a new all-time high. With more investment options becoming available and a rise in investor interest, the future pricing trends of Bitcoin continue to be a topic of great interest and speculation.

BTC to USD by CoinMarketCap

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