This influx highlights rising investor confidence in Bitcoin, signaling its potential mainstream acceptance as a valid investment.
Blackrock, the top asset manager, led with a record $788.3 million daily inflow into its Bitcoin ETF.
Blackrock Dominates with Record Bitcoin ETF Inflows
This record inflow highlights Blackrock’s leading role in the cryptocurrency investment market. The significant investment in Blackrock’s Bitcoin ETF underscores its trusted status and key role in the financial industry’s digital shift.
Bitcoin ETF Flow – 5 March 2024
All data in. $648m total net inflow for the day. Largest inflows since day 1. Blackrock with a record +$788.3 million day. pic.twitter.com/zOJ5Y5XsEx
— BitMEX Research (@BitMEXResearch) March 6, 2024
Investors are turning to Bitcoin ETFs for simpler, regulated Bitcoin exposure, despite digital assets’ volatility. This shift is reflective of a maturing market that is beginning to align more closely with traditional financial products and investment strategies.
Once viewed skeptically, Bitcoin is now valued for portfolio diversification, inflation hedging, and digital gold. Institutional investors’ growing interest, enhancing market liquidity and stability, supports Bitcoin’s shifting perception.
More About Bitcoin ETFs
According to SoSoValue, Bitcoin spot ETFs witnessed a significant total net inflow of $648 million. Notably, the Grayscale ETF GBTC saw a net outflow of $332 million on the same day.
According to SoSoValue data, on March 5th, the total net inflow to Bitcoin spot ETFs was $648 million. Grayscale ETF GBTC experienced a net outflow of $332 million yesterday, while the Bitcoin spot ETF with the highest net inflow was BlackRock ETF IBIT, with a daily net inflow of… pic.twitter.com/vR5QKtJY5e
— Wu Blockchain (@WuBlockchain) March 6, 2024
This marked a new record for IBIT’s daily net inflow, pushing its total historical net inflow to an impressive $9.167 billion. This surge underscores the shifting investor preference towards regulated cryptocurrency investment vehicles like IBIT, highlighting its dominant position in the market.
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