Bitcoin ETF Witnesses Second-Highest Net Inflow of $542 Million, Breaking Records

Retail and Institutional Investors Flock to Buy Spot Bitcoin ETFs

As the price of Bitcoin rallied nearly 7% to over $48,000 on Friday, both retail and institutional investors rushed to buy spot Bitcoin ETFs. This surge in buying activity has resulted in a net inflow of $542 million into these ETFs.

BlackRock, Fidelity, and Ark 21Shares Bitcoin ETFs Lead Inflows

The largest inflows were recorded by BlackRock (IBIT), Fidelity (FBTC), and Ark 21Shares Bitcoin ETF, with $250.7 million, $188.4 million, and $136.5 million respectively. Other ETFs such as Bitwise (BITB) and VanEck (HODL) also saw significant inflows. However, Invesco Galaxy Bitcoin ETF experienced an outflow of $17.4 million.

Grayscale’s GBTC Spot Bitcoin ETF Sees Lowest Outflow

The outflow for Grayscale’s GBTC spot Bitcoin ETF reached its lowest point yet at $51.8 million. Analysts believe this drop in outflow may indicate an upcoming shift in the spot Bitcoin ETF market. The net outflow for GBTC has now risen to $6.38 billion.

Over $9 Billion Inflows Since Launch

The total net inflow for spot Bitcoin ETFs, excluding GBTC, has surpassed $9 billion since their launch. BlackRock and Fidelity Wise Origin Bitcoin ETFs lead the way with inflows of $3.7 billion and $3 billion respectively.

Bitcoin Price Continues to Rise

Bitcoin’s price has surpassed $48,000 with a strong possibility of breaking the $50,000 mark. This surge in price has led to a significant flow of $405 million into spot Bitcoin ETFs on Thursday. The Fear and Greed index currently stands at 66, indicating a sentiment of greed in the market.

Crypto Stocks Soar Alongside BTC Price Rally

As Bitcoin’s price rallied, crypto stocks such as Coinbase (COIN) and MicroStrategy (MSTR) experienced notable gains. Coinbase closed 7.12% higher at $141.99, while MicroStrategy closed 9.95% higher at $646.32 on Friday. Robinhood Markets (HOOD) also saw a 2% increase.

BTC Price and Trading Volume

Currently, BTC is trading at $47,308, experiencing a slight dip due to profit booking by traders in the past 24 hours. The 24-hour low and high for BTC are $46,136 and $48,152 respectively. Trading volume has also increased by more than 30%.