Breaking Down Crypto ETF Flows: What You Need to Know
Have you been keeping an eye on the recent flows into the combined U.S. spot Bitcoin exchange-traded funds? Hereโs a breakdown of the latest data to keep you informed:
Positive Inflows Override Earlier Outflows
- Wednesday saw $113.5 million worth of net inflows
- The previous day, $40.3 million was added to the funds
- This surge surpassed the $87.5 million net outflows registered on Monday
Fidelityโs FBTC Leads the Inflows
- Fidelityโs FBTC spot Bitcoin ETF added $116.7 million
- BlackRockโs IBIT fund followed with $42 million inflow
- Bitwiseโs BITB product came third with $23 million in inflows
Grayscaleโs GBTC Fund Experiences Outflows Slowdown
- The outflows for GBTC dropped to $75.1 million recently
- Total outflows for GBTC currently stand at $15.2 billion
- Analysts predict a slowdown in outflows for the foreseeable future
New Trends in Daily Trading Flows and Volumes
As the situation continues to evolve, hereโs an update on the daily flows and trading volumes for spot Bitcoin ETFs:
Declining Daily Flows and Volumes
- Overall flows reached a peak of $1.05 billion on March 12
- Daily trading volume stood at $2.3 billion on Wednesday
- Total volume for spot Bitcoin ETFs has now reached $190 billion
Bitcoin Price Update
- Bitcoin is currently trading at $66,234
- The cryptocurrency has experienced a 6% drop in the past week
- Despite recent fluctuations, Bitcoin remains 57% up year-to-date
Hot Take: What Lies Ahead for Crypto ETFs
As the crypto landscape continues to evolve, itโs essential to stay updated on the latest trends and developments in ETFs. Keep an eye on the dynamic market to make informed decisions about your investments.
Theon Barrett shines as a distinguished crypto analyst, accomplished researcher, and skilled editor, making significant strides in the field of cryptocurrency. With an astute analytical approach, Theon brings clarity to intricate crypto landscapes, offering insights that resonate with a broad audience. His research prowess goes hand in hand with his editorial finesse, allowing him to distill complex information into accessible formats.