2024-03-23 21:43:00
Spot BTC ETFs have gained massive traction since they received the green signal from the SEC. Now Blackrock and Fidelity’s Bitcoin ETFs have broken another record by recording 49 consecutive days of positive inflows. According to Bloomberg analysts. Only 30 other ETFs have performed this well in their trading journey.
Blackrock and Fidelity Bitcoin ETF break another record over the past 49 days according to Bloomberg analyst Eric Balchunas. Blackrock and Fidelity achieved positive inflows. This is something that has only been achieved by 30 other ETFs. However, Blackrock and Fidelity are the only ones that have maintained a positive trading trend since their introduction. At present, BlackRock’s inflows are 13.3 billion. While inflows from Fidelity amount to $6.9 billion. According to data from SosoValue.
BlackRock establishes the leadership among ETFs, as we mentioned previously, with 239,252 Bitcoins under its care. The BlackRock iShares Bitcoin ETF (IBIT) now has more than double what MicroStrategy has. It is a major participant in the field of investment. Considering that IBIT has only been around for a short time. Less than two months since its establishment. This achievement is particularly noteworthy.
The rapid accumulation of Bitcoin by IBIT indicates a significant change in the dynamics of institutional investment in Bitcoin. In addition to undermining MicroStrategy’s previous dominance. It also highlights the growing participation and interest of institutional investors in the Bitcoin market. The move signals a larger trend where institutions are starting to accept Bitcoin and other digital assets as suitable investment options.
Bridging the Trading Gap One of the reasons for the success of the Bitcoin ETF is that it has bridged the gap between traditional traders and digital assets. Amidst these developments. Institutional-level Bitcoin investment solutions, such as IBIT, have shown remarkable expansion and uptake. IBIT has firmly established itself as one of the largest Bitcoin spot products since its introduction by continuously accumulating large amounts of the cryptocurrency every day. This notable rise indicates institutional investors’ increasing need for safe and regulated channels to access the cryptocurrency space.
Crypto Horizon
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