Os exchange-traded funds (ETFs) de Bitcoin experienced a total net inflow on March 25, breaking a sequence of five-day exits, this being the longest sequence since the launch of product trading on January 11th.
The inflows coincided with the increase in Bitcoin prices, which once again surpassed the US$70.000 mark, reaching this mark for the first time since March 15.
In a recent market swing, Bitcoin demonstrated its unwavering strength by exceed the US$71 limit again. This upward movement comes after a brief pullback, which saw the leading cryptocurrency fall below US$61, inciting debate and speculation among investors and analysts about the immediate future of the digital asset.
The net inflow into spot Bitcoin ETFs on March 25 was 212 BTC (approximately US$15,7 million), as revealed by data from the BitMEX Research platform. Fidelity's ETF, FBTC, topped the numbers for Nasdaq-listed funds, recording inflows of 3.689,3 BTC ($261,8 million).
Bitcoin ETF Flow – 25 March 2024
All data in. Net inflow day after outflows last week pic.twitter.com/Zk3EQE3Hws
- BitMEX Research (@BitMEXResearch) March 26, 2024
At the time of publication, the Bitcoin price it was quoted at US$70.947,49, up 5.8% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$46.398.830.430. In the last seven days, the Bitcoin price increased by 12.3%.
BlackRock surpasses OKX and Kraken, showing institutional power in Bitcoin
In a scenario increasingly focused on the digitalization of assets, BlackRock, recognized as the largest asset manager globally, has demonstrated a remarkable ability to adapt and innovate. With the launch of the iShares Bitcoin Trust (IBIT) in January 2024, the company has not only entered the Bitcoin market with force, but also surpassed industry veterans, redefining the balance of power within the cryptocurrency ecosystem.
BlackRock's entry into this sector is a milestone. By accumulating over 243.130 BTC in a short space of time, the BlackRock's IBIT surpassed the combined Bitcoin reserves of prominent exchanges OKX and Kraken, who hold 132.500 BTC and 77.300 BTC, respectively. This feat is not only impressive for the speed with which it was achieved, but also for what it signals about institutional investors' confidence in Bitcoin as a viable and profitable asset class.
