As a seasoned researcher with a keen eye for market trends, it’s fascinating to witness the dynamic interplay between institutional demand and digital assets like Bitcoin. The recent surge in trading volume for U.S. spot Bitcoin ETFs, particularly BlackRock’s IBIT, is a testament to this growing interest. Despite the overall net outflow, it’s intriguing to see how one player can dominate the scene, capturing a significant portion of the inflows.
On November 14, Bitcoin ETFs traded in the U.S., including BlackRock’s IBIT, recorded a trading volume of $5 billion. Interestingly, BlackRock’s IBIT accounted for about 60% or over $3 billion of that total. Despite this substantial trading activity, these ETFs collectively experienced a net withdrawal of approximately $400.67 million.
In contrast to the majority of ETFs that experienced substantial withdrawals, BlackRock’s IBIT attracted an inflow of $126.53 million, bringing its total accumulated inflow to a staggering $29.28 billion. On the other hand, a combination of other ETFs such as Grayscale’s GBTC, Fidelity’s FBTC, ARK and 21Shares’ ARKB, and Bitwise’s BITB faced outflows totaling $524.41 million.
After six consecutive days of positive Bitcoin ETF inflows totaling approximately $4.7 billion, the latest figures from SoSoValue indicate a decrease in net inflow, with spot Bitcoin ETFs now showing a cumulative total net inflow of $27.83 billion and a total net asset value of $92.56 billion. This equates to a 5.34% market cap for Bitcoin.
Bitcoin’s upward trend is fueling a surge in ETF trading, suggesting growing enthusiasm and institutional appetite for the cryptocurrency. As more retail investors and institutions look for simple ways to invest in Bitcoin, BlackRock’s IBIT has become a preferred option, accounting for a significant share of recent investments.
Read More
- Hrithik Roshan’s ex-wife Sussanne Khan shares beautiful birthday wish with pic ft actor’s GF Saba Azad: ‘The best of your talent…’
- Dragon Ball Z’s Spinoff Daima Is Officially Available In English, And I Think Fans Should Be Watching For One Major Reason
- Zamna In Tulum Is Taking Your Festival Experience To The Next Level
- Dexter: Original Sin Made Me Holler At My TV When That Killer Easter Egg Appeared, And The Creator Shared His Own Excitement
- ’28 Days Later’ Gets Official Streaming Date From Sony
- Yami Gautam flaunts her ‘Monday morning happiness’ as she resumes shoot after son Vedavid’s birth; See PIC to find out 2nd reason for her smile
- Wolf Man” Director Declares “Invisible Man
- Deva: Shahid Kapoor starrer’s director Rosshan Andrrews reveals idea behind his character; ‘he has a ‘don’t care’ attitude
- Raj Babbar’s daughter Juhi Babbar shares at what age father told her about his second wife, Smita Patil; any guesses?
- Top gainers and losers
2024-11-15 10:28