Is Bitcoin The New Gold? Bitcoin ETFs Reach Unprecedented $1B One-Day Inflows
Portfolio Pulse from Murtuza Merchant
Bitcoin spot ETFs experienced a record $1.05 billion net inflow on March 12, marking the highest single-day net inflow since their inception. Blackrock's IBIT product led with $849 million in inflows. Spot Bitcoin ETFs now dominate over 90% of the daily trading volume market share, indicating a strong investor preference over futures-based ETFs. Bitcoin's price action reflects a bullish sentiment, trading at $72,930, up 1.1% over the past 24 hours.
March 13, 2024 | 3:45 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Blackrock's IBIT ETF experienced a record $849 million inflow, significantly contributing to the overall $1.05 billion net inflow into Bitcoin spot ETFs.
The record inflow into IBIT indicates strong investor confidence and demand for Bitcoin spot ETFs, particularly IBIT. This unprecedented capital influx is likely to positively impact IBIT's short-term performance as it reflects growing investor interest and market share dominance in the Bitcoin ETF space.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100