Bitcoin ETF Inflows Surge in the Last 4 Days
There has been a significant increase in net inflows for Bitcoin Spot Exchange-Traded Funds (ETFs) in the past few days. Thomas Fahrer, co-founder of Bitcoin tracking platform Apollo, shared this development on social media. BTC spot ETFs are currently experiencing a total acceleration of inflows.
Over the past 4 days, these products have seen an inflow of 43,000 BTC tokens, totaling $2.3 billion. This surge indicates renewed adoption by crypto players and investors.
Data from Apollo shows that Grayscale is the leading firm in Assets Under Management (AUM), with $23.7 billion AUM. However, this is a drop from $28 billion due to daily net outflows since the ETF was approved by the SEC.
Blackrock recorded its largest inflow day ever on Tuesday, with its BTC ETF seeing almost half a billion in inflows. The overall inflow for Blackrock’s Bitcoin ETF has exceeded $5 billion.
Hot Take: BTC ETF Inflows Drive Bitcoin Rally
The recent rally in Bitcoin’s price above $50,000 is believed to be influenced by the increased flows into BTC ETFs. This surge in investment products shows growing interest and confidence in Bitcoin as an asset class.
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