Bitcoin ETFs See Massive $213 Million Inflows in Single Day
Three days of inflows
According to SoSoValue, Bitcoin spot ETFs recorded a total net inflow of $213 million yesterday, marking the third consecutive day of net inflows.
In contrast, the Grayscale Bitcoin Trust (GBTC) experienced a significant net outflow of $79.3 million in a single day, contributing to GBTC's historical net outflow, which now stands at $15.31 billion.
Among the Bitcoin spot ETFs, BlackRock's ETF, IBIT, observed the highest single-day net inflow of approximately $144 million, contributing to IBIT's total historical net inflow of $14.4 billion.
BlackRock's ETFs on rise
BlackRock updated its Bitcoin ETF prospectus on April 5, adding major Wall Street firms like ABN AMRO Clearing, Citadel Securities, Citigroup Global Markets, Goldman Sachs and UBS Securities as new authorized participants.
These firms join others like JPMorgan Securities, Jane Street Capital, Macquarie Capital and Virtu Americas. Authorized participants play a critical role in the ETF operational mechanism, facilitating the creation and redemption of ETF shares.
Alex DovbnyaRecently, crypto analyst Willy Woo has suggested that BlackRock's $9.5 trillion in assets under management could potentially shift toward digital assets, notably Bitcoin, as younger generations exhibit increasing confidence in cryptocurrency.
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