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In recent news within the crypto investment space, Bitcoin ETFs have demonstrated a remarkable surge, witnessing a significant 283% increase in net inflows over a 24-hour period. Data unveiled by BitMex Research underscores this pronounced uptick in investor engagement, with the total net inflow into Bitcoin spot ETFs amounting to an impressive $113 million on the previous day.
Yuri MolchanAmong the Bitcoin ETFs, Fidelity's FBTC emerged as the frontrunner, experiencing a daily net inflow of approximately $116 million, closely followed by BlackRock's IBIT, which recorded a net inflow of about $42.03 million. Conversely, Grayscale's GBTC saw a net outflow of $75.14 million for the day, bringing its total historical net outflow to a substantial $15.23 billion.
This surge in investor activity follows closely on the heels of earlier reports indicating a $40.2 million net inflow into Bitcoin ETFs just a day prior.
Market wants more
Furthermore, the impending entry of major financial institutions into this market underscores the growing institutionalization of cryptocurrency investments. Notably, Morgan Stanley and UBS are reportedly finalizing their Bitcoin ETF solutions, signaling an expansion of investment avenues in the cryptocurrency space.
Moreover, Goldman Sachs, a leading financial institution, anticipates a sustained surge in demand for U.S. spot Bitcoin ETFs, with many funds poised to meet client demand.
Since the inception of Bitcoin ETFs in January 2024, the flagship cryptocurrency has demonstrated a remarkable surge, registering a notable 77% increase in price, setting a new all-time high.
Gamza KhanzadaevWith the increasing availability of such investment instruments and a growing investor appetite, the trajectory of Bitcoin's pricing remains a subject of profound interest and speculation.
Yuri Molchan
Denys Serhiichuk
Dan Burgin
Alex Dovbnya
Vladislav Sopov